NBS: China's coal mining, washing industry profits surge 33.5% YoY in Jan-May

The combined profit of major enterprises in China's coal mining and washing sector reached Yuan 168.91 billion ($24.9 billion) during the first five months of this year, rising by 33.5% on year, according to the latest data issued by the National Bureau of Statistics of China (NBS) on June 29. The NBS defines major enterprises as those with annual primary business revenues of Yuan 20 million or more.

Operating revenue for the industry totalled Yuan 1,117.75 billion in January-May, up 6.7% on year, the NBS data show. The improvement in coal miners' profitability during January-May was underpinned by a tighter supply-demand balance that supported higher coal prices. On the supply side, intensified safety inspections and temporary mine suspensions