As a large coal supply base, Xinjiang aims to achieve coal output of more than 400 million tons by 2025.

Steel, magnesium and its products, and coal are among the major exported commodities.

An executive of the company said such a practice has multiple benefits in both economic and environmental terms.

China's State Administration for Market Regulation has conducted investigations on activities of bidding up coal prices, the administration said Friday.

According to the administration, China saw 190 mining accidents in the January-July period, down 14 percent year on year.

"The situation on the gas market is tense," Minister for Economic Affairs and Climate Action Robert Habeck said in a statement.

These measures have raised concerns that the EU might scale back its climate ambitions.

Many European countries have recently announced the reopening of coal power plants as gas supplies from Russia have slumped amid European Union sanctions.