BEIJING May 9 China Poly Group, a real estate
developer, said it has transferred its main energy unit to China
Coal Group as required by the state asset supervisor.
The transfer was in response to a government order to some
state-owned companies to spin off their coal asset if their main
business is not coal, the company said in a statement posted on
its website late on Monday.
Poly Energies Holding has total coal reserves of 2.6 billion
tonnes in Shanxi province and Xinjiang region. It has a planned
output of 24.85 million tonnes per year, according to its
(Reporting by Meng Meng and Beijing Monitoring Desk)