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Construction has begun on the 5.5 million tons per year integrated project for the clean, efficient, and comprehensive processing of low-grade coal at Yiwu Jiangna New Materials Company – a project that aims to carry out sorting, quality differentiation, and further processing of such coal. Author/Source: Coal Chemistry News; Date: March 31, 2020; Clicks: 2. On March 30, construction started on this project, which is considered a model project for the deep processing of coal. This marks the beginning of the development of a modern coal chemical industry in the northern Hami region as part of a new comprehensive energy base. Iwu Jiangna New Materials Co., Ltd. was established in Yiwu County in March 2018. It is mainly engaged in the production and sales of high-performance composite materials, as well as in the comprehensive utilization of mineral resources, along with providing related technical services. Leveraging its own advantages in terms of resources, location, and transportation related to the Xiangna Mining Xingsheng open-pit coal mine, and in line with the industrial strategy of \"coal – charcoal – oil – gas – electricity – heat – chemicals,\" the company plans to invest 12 billion yuan to build an integrated project for the clean, efficient, and comprehensive processing of low-grade coal at a capacity of 5.5 million tons per year. The project is in line with **industrial policies**; it is a key project for the deep processing of coal under the \"14th Five-Year Plan\" in the autonomous region and Hami City, and it is also one of the important projects included in the plan for the new comprehensive energy base in northern Hami. The project has been included in the list of key energy projects to be launched in the last two years of the 13th Five-Year Plan, as part of the **13th Five-Year Plan for Demonstrating Advanced Coal Processing Industries**. Upon completion of all the projects, the output value is expected to exceed 8 billion yuan, profits and taxes to reach 1.5 billion yuan, and more than 2,000 people will be employed as a result. At the ceremony marking the simultaneous commencement of major construction projects in Yiwu County, Hami City, in 2020, Li Yunde, Chairman of Shandong Xingsheng Mining Group and Chairman of the Board of Directors of **Aide New Energy Investment Holding Group, delivered a speech and was interviewed by a television station. He said, “With the strong support at all levels, Jiangna New Materials Company will stick to the set goals and deadlines, work backwards to determine the construction schedule, cooperate closely, and pool efforts to advance the project construction. We will ensure that the project is completed and put into use as soon as possible, striving to turn it into a model project and a high-quality undertaking.” Efforts will be made to turn the 550 project of Xinjiang Naa New Materials into a first-class, large-scale modern coal chemical facility that is safe, efficient, and environmentally friendly, within three years. This will enable the resources generated to benefit the local populations of all ethnic groups, contributing to the economic development of Xinjiang through energy supply. ” At the commencement ceremony, key leaders from participating companies such as Xinjiang Bank Co., Ltd., Hami Commercial Bank Co., Ltd., China National Chemical Engineering 11th Construction Company Limited, Xinjiang Production and Construction Corps 4th Construction Engineering (Group) Co., Ltd., and Xi’an Shanggu Power Co., Ltd. were also invited to attend. Zheng Yufeng, Deputy Secretary of the Party Committee and President of Xinjiang Bank, said that as a local state-owned financial institution, Xinjiang Bank has always taken it upon itself to fulfill its social responsibilities and contribute to the local economic development. It regards supporting the high-quality development of the private economy as an important part of its duty to provide financial services to the real economy. By actively adjusting its business strategies and identifying appropriate entry points, the bank proactively meets the legitimate financial needs that arise during the transformation and development of the private economy, thereby providing strong support for its high-quality transformation and growth. The commencement of construction of the 550 project at Jiangna New Materials marks the beginning of state-owned financial institutions’ support for the development of private enterprises and their commitment to providing inclusive finance.