Coal-rich province to close more mines

North China's coal-rich Shanxi province plans to close all coal mines with annual production capacity below 600,000 metric tons by the end of 2020 to further upgrade the industry. The move aims to help cut the province's coal production capacity by over 15 million tons this year, according to the provincial government.

Express delivery firms face pressure

Pricing pressure in China's express delivery sector intensified in the first quarter as slower economic activity due to the novel coronavirus outbreak weighed on demand and express delivery companies cut prices to win orders, said a report from ratings agency Fitch Ratings. Major players will become more aggressive in pursuing economies of scale and technological advances to drive down costs, making the sector more capital-intensive, it said.

Xinhua