Shanghai, February 26:

China became a net importer of coal in January for the first time, an official said Monday, as the globe’s largest consumer turned overseas to supply its booming economy.

China imported 4.7 million metric tonnes of coal in January, a rise of 81.1 per cent from a year ago, according to figures from the customs bureau. Coal exports in January fell 20.4 per cent to 3.29 million tonnes. Increased demand from China’s energy-hungry economy could pressure international coal prices higher, much in the same way the nation of 1.3 billion people has driven oil prices higher.

China became a net oil importer more than 10 years ago and its increased demand has been one of the factors behind higher oil prices over the last few years. To blame for the coal shortage were transportation bottlenecks and a change in tax rebate policy, said Hao Xiangbin an official with the Beijing-based China Coal Transport and Distribution Association.