Coal industry digs for solutions

The coal industry in North China's Shanxi province faces mounting pressure to get financing amid slumping coal prices and increasing debts, as experts call for greater freedom for non-governmental financial institutions.

"The performance of China's manufacturing sector has not been very good in recent years," Li Xiaobo, chairman of Taiyuan Iron and Steel Corp, said during a panel discussion at the 12th National People's Congress. "While big companies can manage to get capital, financing difficulties for small-and medium-enterprises are huge.

"Banks should make professional judgments on an enterprise's prospects when determining whether to provide it with loans," he continued.