China down to 12 days of coal stocks

China's booming economy could be running out of steam – literally.

At the end of a cold and stormy winter, the country has just 12 days of coal reserves at most power stations. Some provinces, including Hebei, bordering Beijing, have less than a week's coal left. This is a record low, the state electricity regulatory commission revealed on Tuesday.

China relies on burning coal for 70% of its electricity. Even though Chinese coal production in the first quarter of this year was up almost 15% on the same period last year, it has apparently not been enough to meet rapidly growing demand.

Coal imports, which started last year, have also failed to meet the difference between supply and demand. Such is the demand for power from an economy that has been growing by 10% a year for more than two decades.