China acts to boost private energy sector

New policies were rolled out to further support the market.

China has introduced new measures to fuel the development of the energy sector’s private economy and help private companies take a bigger role in the transition to clean power sources.

According to authorities, the measures include those that support private enterprises in investing in and building energy infrastructure projects such as hydropower facilities, oil and gas storage facilities, and liquefied natural gas terminals. The government also encourages private investment in emerging areas like new energy storage, virtual power plants, charging infrastructure and smart microgrids.

The private sector will also be encouraged to be active in the energy sector's major technological innovation, and to accelerate digitalisation and smart upgrades, promote technological innovation in renewable energy facilities, and develop advanced recycling technologies and business models to improve resource efficiency.

Authorities assured that they will ensure a level playing field by improving market access and enhancing mechanisms for the allocation of production factors, and through the further regulation of the energy market order.

Approval procedures for energy investments will be streamlined to protect the legitimate rights and interests of private enterprises, and support and guide them in expanding into overseas markets and enhancing their international competitiveness, the government said.