煤炭开采：2024年十大涉煤政策回顾

Investment Rating - The report maintains an "Overweight" investment rating for the coal mining industry [1]. Core Insights - The report highlights that coal demand is expected to reach a record high in 2024, with a slight growth forecasted for 2027, according to the IEA [5]. - Recent tax rate increases in Shanxi and Xinjiang indicate a shift from land finance to resource finance, which may impact the industry's profitability [3][19]. - The establishment of a coal energy reserve system aims to enhance supply security, with a target of 300 million tons of adjustable coal reserves by 2030 [19]. - The report emphasizes the importance of low-carbon transformation in coal power generation, with specific action plans outlined for 2024-2027 [21]. Summary by Sections Industry Trends - The coal mining sector is experiencing regulatory changes, including increased resource tax rates in key provinces [19]. - The introduction of the "Coal Mine Production Regulations" aims to enhance safety and operational standards in the industry [19]. Policy Developments - The National Energy Administration's 2024 work guidelines set ambitious targets for coal production and energy supply security [19]. - The new Mining Resources Law, effective July 2025, will introduce protective measures for strategic mineral resources [19]. Investment Recommendations - The report recommends several companies for investment, including China Qinfa, Huabei Mining, and Shaanxi Coal, highlighting their strong performance and potential for recovery [22].