SHANGHAI, Nov 5 (Reuters) - China stocks closed lower on Friday, dragged down by coal miners amid China’s intensive measures to rein in coal prices and boost production, while property firms dropped after a developer said its unit had missed a payment on a wealth management product. The blue-chip CSI300 index fell 0.5% to 4,842.35, while the Shanghai Composite Index lost 1% to 3,491.57. ** For the week, the CSI300 index dropped 1.4% while the Shanghai Composite Index shed 1.6%, both logging their biggest weekly decline in seven weeks. ** Coal miners slumped 4.4%, as China’s state planner published seven statements in the past two days showing recent coal production and its efforts in reining in prices. ** It said China’s daily coal output is close to a record high this year amid a raft of measures. ** Real estate firms lost 2.1%, as concerns about a liquidity crisis in the property sector grew after developer Kaisa Group Holdings Ltd said its finance unit had missed a payment on a wealth management product. ** The media sub-index gained 2.3%, boosted by shares related to “metaverse” - a shared virtual environment that Facebook bets will be the successor to the mobile internet. ** With Facebook changing its name to Meta and other tech giants exploring business in metaverse, Huaan Securities expects online gaming stocks would benefit. ** Citic Securities said there is no standard definition of metaverse, but they expect it will become the next generation of internet in the coming 20 years. (Reporting by Shanghai Newsroom; Editing by Rashmi Aich)