Abstract: In order to find out the capital stock of China's coal industry, the actual accumulation of material capital is accurately measured. The 1990 period was selected as the base period, and the perpetual inventory method was used to re-estimate the capital stock of China's coal industry from 1990 to 2017. Comparing the estimation results with the existing research results, the results show that the estimation results in this paper are between the existing research results, effectively avoiding the situation of high and low estimation, which is a relatively reasonable estimate. As a result, it can provide data reference for the subsequent research on economic growth of the coal industry.