China wants more private investments in energy sector
China is taking out restrictions that hinder private investments in its energy sector.
The National Energy Administration (NEA) said China will further encourage private investment in the energy sector to boost the restructuring and future development of the industry.
China will support private investment in energy exploration, coal processing, oil refining, network development of petroleum and natural gas and electric power construction, and give private capital full access to the new energy and renewable energy sectors.
All funding sources, including international financial organizations and foreign government loans, should treat private investors.
Except for those prohibited by law, China will open all energy sectors listed in the national energy plan to private investors. Investors are also encouraged to participate in China's key energy projects.
NEA said detailed rules should be established and implemented to create a favorable environment for private investors and ensure their justified rights in energy exploitation and development.
The new guideline allows eligible private enterprises to take up development projects for large-scale coal mines, as well as unconventional oil and gas resources like coal-bed methane, shale gas and oil shale.