CHINA

Price Restrictions on Coal to Be Lifted: China plans to lift most of the restrictions by 1994 and lay off 400,000 miners to modernize the industry and rescue it from debt, according to an official report. The China Daily reported that 77% of coal will be sold at market prices by the end of this year. The 400,000 coal miners will be laid off by 1995. The newspaper gave no details on the price reform, but said the measures are aimed at making the industry profitable by 1996. Last year, the government lifted price controls on 20% of the nation’s coal, closed 19 mines and laid off 280,000 employees. The moves helped cut losses by $159 million in the first half of 1993. China produces more than 1 billion tons of coal a year.