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Shanxi non-coal industries FAI up 16.2pct in Q1

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Publish time: 29th April, 2015      Source: www.cnchemicals.com
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Northern China’s coal-rich Shanxi province posted a 16.2% year-on-year increase in its fixed-asset investment of non-coal industries to 34.26 billion yuan ($5.53 billion) in the first quarter, said the provincial statistics bureau on April 29.That accounts for 77.8% of total fixed-asset investment in all industries, up from a 10.3% growth a year ago, indicating the leading coal producer is shifting away from its reliance on the coal industry, which is struggling with low prices and weak demand.Shanxi spent a total 12.24 billion yuan in its entire mining industry in the first quarter, down 12.3% year on year, data showed.The industrial added value of non-coal industries accounted for 49.2% of the province’s total, up 4.2 percentage points from the year before, while that of coal industry dropped 2.8% year on year.Meanwhile, total investment in non-traditional industries, excluding coal, coking, metallurgical and power industries, rose 23% on year to 22.2 billion yuan during the same period, accounting for 50.4% of the total.Shanxi produced 212 million tonnes of coal in the first quarter, down 3.2% year on year, said the National Development and Reform Commission.Besides, the province produced 20.39 million tonnes of coke in the same period, down 4% on year, with March output at 6.68 million tonnes, down 1.8% on year.