Opportunities for Chinese Companies in Coal Trade DiscussedEconomy
Ulaanbaatar, January 25 /MONTSAME/. The Mongolian Stock Exchange (MSE) leadership received the Commercial and Economic Counsellor of the Embassy of the People’s Republic of China, Song Xuejun, and the Deputy Director of China General Chamber of Commerce in Mongolia, Chai Fang Ping.
During the meeting, the Chief Executive Officer of the MSE, Altai Khangai, introduced the current and future situation of Mongolian capital markets to the visitors. The parties exchanged their views on opportunities to increase Chinese investment in the Mongolian capital markets. In addition, the parties discussed further actions to introduce opportunities for Chinese companies to participate in the online coal trades organized by the Mongolian Stock Exchange from February 2023.
The Government of Mongolia decided to sell coal through e-auction following the Resolution No.362 of the Government, approved on December 14, 2022, and the MSE conducted the trial e-auction of coal export on January 12, 2023. The traders of PRC, Singapore, and Hong Kong participated and purchased two lots or 12,800 tons of coal that traded through the trial trading of the MSE from “Energy Resources” LLC.
Hundred and seventy Chinese companies are procuring from “Erdenes Tavantolgoi” JSC.