China Suspending Coal Production in Advance of Leadership Change

Bloomberg reported that China, in an effort to improve safety, is suspending coal production in some of its smaller mines, in advance of the leadership transition that happens once a decade.

As quoted in the market report:

Ahead of the 18th Party Congress, which begins Nov. 8 in Beijing and runs for at least a week, the State Administration of Work Safety has sent inspectors to mines to “spot hazards” and accelerate shutdowns over the next month, it said in an Oct. 24 statement on its website. The congress is where China’s next generation of leaders will be formally anointed.

To view the whole Bloomberg report, click here.