China's central State planner issued a mandate to coal buyers on Monday to sign medium and long-term contracts to ensure stable supplies next year, against the backdrop of recent gains in coal prices.
The National Development and Reform Commission (NDRC) said coal miners should provide at least 80% of output to medium and long-term contracts, which are encouraged to be signed before the end of the year.
In an online statement, it also specified that the contracts, which range between three to five years, must cover 80% of domestic coal consumption at power plants using imported coal and 75% at power companies that only use domestic sources.
