Recently, 12 ministries and commissions jointly issued the "Opinions on Further Promoting the Transformation and Upgrading of Merger and Acquisition in Coal Enterprises" ("Opinions"), and pointed out their support for mergers and acquisitions among qualified coal enterprises, for the development of coal-electricity joint ventures, for the merger and reorganization of coal and coal chemical enterprises, as well as for mergers and reorganizations with other related industries and enterprises and the promotion of exiting from excess capacity through mergers and acquisitions, in addition to promoting technological progress and upgrading. It should be pointed out that continued deepening of production de-capacity will speed up the growth of state-owned coal enterprises.