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China January-October coal industry FAI down 16.5% y-o-y

China’s fixed-asset investment (FAI) in coal mining and washing industry stood at 330.1 billion yuan ($51.6 billion) over January-October, down 16.5% year on year, showed data from the National Bureau of Statistics (NBS) on November 11.

Private investment in the sector contributed 186.4 billion yuan of the total, falling 15.7% from the previous year, compared to a 16.8% decline over January-September.

Meanwhile, fixed-asset investment in all mining industries across the country posted a year-on-year drop of 8.5% to 1,051.6 billion yuan over January-October. Of this, private investment in mining industries contributed 594.4 billion yuan during the same period, falling 12%.

The NBS data showed a total 118.6 billion yuan was spent on fixed assets in ferrous mining industry during the same period, down 20.2% from the previous year; while investment in oil and natural gas industry rose 1.7% on year to 255.8 billion yuan.

The fixed-asset investment in non-ferrous mining industry witnessed a year-on-year decline of 4.7% to 175.1 billion yuan during the same period, data showed.

source: http://en.sxcoal.com