Many people refer to the Mao Zedong period, when households had to use stamps to buy food, drink and other daily necessities in certain quantities because of the scarcity of supplies.
Recently, a locality in China has used stamps to ensure that people will be provided with enough heating fuel for the coming winter. This move reminds many people of the subsidized economy days under the late leader Mao Zedong.
Soczhou, a town in Shanxi province (which is China’s coal granary), has distributed stamps to 47,000 households, the China Youth Daily reported. Each voucher can be exchanged for 2 tons of subsidized coal, so that each household has enough coal for the winter and early spring of next year.
The move comes after severe supply shortages sent coal prices skyrocketing and resulted in power cuts across parts of China. The market has now stabilized thanks to interventions to help coal production increase sharply again, but this winter is forecast to be a record cold and the energy demand of the world’s second largest economy. is very large.
Locals have begun hoarding firewood and corn cobs in case there is a shortage of heating fuel, according to media reports.
The stamps like the subsidy period caused a stir on social networks. Many people refer to the Mao Zedong period, when households had to use stamps to buy food, drink and other daily necessities in certain quantities because of the scarcity of supplies.
Shanxi is one of the provinces with the highest coal production in the country, and Soczhou is home to the largest open-pit coal mine in China. Responding to the government’s effort to increase coal supply, Shanxi province has pledged to increase production by 53 million tons this winter, of which 16 tons will come from Soc Chau.
Currently, coal reserves at China’s thermal power plants are at a record high. However, meteorologists have warned of a weak to moderate La Nina over the coming months, leading to extreme weather and continued drought in many regions.
The price of thermal coal futures on the Zhengzhou Commodity Exchange is up 11% since the beginning of the week. After peaking in mid-October, the price has more than halved.
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