NBS: China's coal mining, washing industry profits halve during Jan-Jul

The combined profit of major enterprises in China's coal mining and washing industry reached Yuan 166.62 billion ($23.3 billion) during the first seven months of this year, down by 55.2% on year, according to data issued by the National Bureau of Statistics (NBS) on August 27. The NBS defines major enterprises as those with annual primary business revenue of Yuan 20 million or more.

The decline came after a 53% fall in the first six months, suggesting the industry's financial performance remained under severe pressure last month, Mysteel Global notes. Operating revenue for the industry totalled Yuan 1,437.54 billion in the first seven months, down 21.8% on year, while its operating costs declined by