Top Shanxi Official Lobbies Investors to Support Ailing Coal Firms

(Beijing) – Executives from several cash-strapped coal firms in the northern province of Shanxi travelled to Beijing to persuade potential investors of their creditworthiness and to convince them that lending to them was safe, although the industry was struggling with weak demand and low prices.

Led by vice provincial governor Wang Yixin, managers from seven provincial government-controlled coal companies and two private firms sought to impress more than 200 representatives from financial institutions including banks, securities firms and trust companies, in a promotion event held in Beijing's downtown financial district on July 13.