Xi stresses efforts to reform energy sector

BEIJING - Chinese President Xi Jinping on Friday called for more efforts to revolutionize the country's energy production and consumption, in light of changing dynamics in the global energy market.

While presiding over a meeting of the Central Leading Group on Financial and Economic Affairs, Xi, head of the group, acknowledged that China faces challenges to cope with rising energy demand, supply restraints, huge environmental costs and backward technology.

To ensure national energy security, the country needs to take steps to rein in irrational energy consumption and build a diversified supply system that is based on secure supply from multiple channels, clean and efficient use of coal, and the development of non-coal energy, Xi noted.

Efforts should also be made to upgrade technology, reform the pricing mechanism and strengthen international cooperation, he said.

Under the precondition of the highest safety standards, China will start to launch new nuclear projects on the eastern coast as soon as possible, according to Xi.

On the back of expanding industrialization and urbanization, the country's energy demand has kept soaring in recent decades. With volatile global supply due to complicated geopolitical situations, China is in urgent need to transform its energy structure to cope with the demand.