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As one of the world’s fastest growing economies, China's energy needs
substantially exceed the capacities of its existing national power industry. The Ministry of
Electric Power estimates that 15-20% of the national electricity demand is going
unmet. To correct this problem critical to the nation's continued growth, according to the current Ninth 5-Year Plan (1996-2000), China's energy industry is focusing on several several strategies: to gradually alleviate industry-wide production and distribution bottlenecks; to significantly increase the number of primarily coat-fired power plants; to strengthen oil and gas exploration and development; to improve energy efficiency; and to insure increase rural energy development. And recently, increasing foreign cooperation and direct foreign investment is also be especially emphasized. For the latest June 2003 update on China's vast energy sector, see the recent report from the U.S. Department of Energy's China Country Analysis Brief. As a result of these needs and policy shifts, China has become one of the most
promising energy markets in the world. Based on
industry sources, China will likely account for about 23 percent of the world’s growth in
demand by 2020 when it will need to import 8 millions barrels of oil daily. As a result of this great energy need, China Economic Information Center (Xinhua)
reports that the country is substantially reinforcing its international cooperation in
energy development in a variety of areas. These include biomass power-generation, establishing small loans programs supporting renewable energy in rural areas and continued direct foreign investment, which since the early 1990’s, has accounted for 10 percent of the country’s total investment in energy. Also, new projects plans such development of major oil pipelines into China from Central Asia and Russia are also being formulated. In July 2000 China formally released in its strategic goals for developing new
and renewable energy. In a report entitled "Project Outlines for Developing
New and Renewable Energy Business from 2000 to 2015" by the State
Development Planning Commission, China’s new energy initiatives will
generate about 67 billion renminbi (over US$8 billion) by 2015 focused in areas such as
power generation, gas and hot water supply and equipment manufacturing. Much of this
is to be directed to providing electricity to 25 million rural villages and herdsmen while
also creating nearly 500,000 new jobs. Other recent 2000 governmental announcements also restated and reinforced its intentions to further develop the power industry by increased foreign cooperation and investment. This includes the establishment of Joint Venture companies with foreign companies, establishing wholly foreign-funded enterprises and by seeking investment capital from international financial institutions and loans from foreign governments. For the latest June 2003 update on China's vast energy sector, see the recent report from the U.S. Department of Energy's China Country Analysis Brief. As
one of the world's most dynamic and promising energy markets, the domain names
ChinaEnergy.CN, ChinaEnergy.Net,
ChinaEnergy.Biz and
ChinaEnergy.Info offer outstanding opportunities for Chinese or global energy investment
or development enterprises. |
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