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Chinese media says to expect a crackdown on high coal prices – citing power shortages, cuts to factory output

China’s Global Times with the report, saying that “experts believe that Chinese authorities will launch new measures – including a crackdown on high coal prices – to ensure a steady electricity supply.”

The GT provide a litany of current woes:

  • Nationwide power curbs, caused by many factors including a steep jump in coal prices and surging demand
  • side effects at Chinese factories of all kinds, with some cutting output or halting production entirely
  • Industry insiders predict the situation could worsen as the winter season draws near.

It goes on with stories of worker layoffs due to power cuts shutting production, 

  • all our 500 workers are off on a month-long holiday
  • over 100 companies in Dafeng district, Yantian city, Jiangsu Province, facing the similar predicament.

A ‘holiday’ in China like this is not a paid holiday. 

If you haven’t already, check this out:

Includes scary coal price graph:

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