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China Strengthens International Energy Cooperation
China is strengthening cooperation with other countries in the area of energy, said Chinese officials at a conference held by the World Energy Council.
China has great potential market for energy products, services and technologies. It will become the largest energy importer in the following two decades with daily petroleum imports estimated at more than 8 million barrels, according to the International Energy Association sources.
China's Ministry of Agriculture has developed energy cooperation with American, Britain, and Japan.
China has opened its electricity market to foreign investors since 1990s. Overseas funding accounts for 10 per cent of the country's total power investments. And the government is yet to raise the rate to 20 percent in the future. By 1999, 24 million kw of electricity was generated by foreign-funded plants.
More solely-funded electricity plants or joint ventures are to be set up to increase power generating capacity.
In order to protect the environment, China is making efforts to develop renewable energies to replace coal, which still serves as the major source for power generating. The World Bank and the UNDP have funded many renewable energy programs in China.
The Chinese government is also planning to import natural gas from Russia and Central Asia, said Chen Heping, an official from the State Development Planning Commission.
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