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On September 20, the Shanxi Provincial Economic Commission announced that the province is set to launch a coal chemical industry investment fund aimed at boosting large-scale coal mining, coal conversion, coal chemical production, coalbed methane development, and the utilization of coke oven gas. This initiative reflects Shanxi's strategic push to leverage its rich coal resources and transform them into more diversified energy and chemical products.
The fund’s initial phase is expected to reach a scale of 10 billion yuan, with participation from institutional investors who have long-term equity investment capabilities and strong interest in the coal chemical sector. The fund will prioritize investments in key projects such as large-scale coal mines, coal-to-liquid technology, coal chemical processing, and the efficient use of coalbed methane and coke oven gas.
Among the priority projects are: first, the development of coal-based synthetic oil to enhance national energy security, reduce oil shortages, and diversify energy sources, aiming to achieve a one-million-ton coal-to-oil production capacity by the end of the "11th Five-Year Plan" period. Second, the utilization of coke oven gas to generate over 10 billion cubic meters annually, supporting the production of 2 million tons of methanol and 2 million tons of dimethyl ether each year. Third, the application of ash fusion gasification technology to process low-quality coal—such as high-sulfur and high-ash coal—into 10 million tons of fertilizer annually.
Currently, Shanxi has submitted a proposal to the State Council, urging increased national investment in the coal chemical industry during the "11th Five-Year Plan" period. It also recommends that major coal chemical projects be concentrated in resource-rich areas like Shanxi and integrated into the national industrial development plan, with corresponding policy and financial support.
Historically, Shanxi was a key base for China’s energy and heavy chemical industries. However, due to weak infrastructure, outdated mechanisms, and heavy economic burdens, the province's chemical industry has lagged behind leading provinces such as Shandong and Jiangsu in recent years. During the "Ninth Five-Year Plan" period, Shanxi ranked 17th, then dropped to 18th, and eventually fell to 21st. Today, the province’s chemical output value remains significantly lower than that of its coastal counterparts, highlighting the urgent need for modernization and investment in the sector.
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