China plans to create a strategic coal reserve amid a spike in imports of the fuel, as the country continues heavily investing in infrastructure and industrial output, according to a news report Friday.

China may create the reserve as early as next year, as imports are on
pace to surpass exports for the first time ever on an annual basis,
Japan’s Nikkei business daily reported.

Coal provides 70% of China’s energy, and state-run mining giant China
Shenhua Energy Co. has been ordered to build a network of 10 reserve
sites capable of holding a total of between 100 million and 200 million
tons of coal, the report said.

China aims to keep the equivalent of about 10% of domestic consumption in reserve, it said.

Source: MarketWatch

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