China stepping up energy legislation
(Agencies)
Updated: 2005-10-21 21:52

China is stepping up energy legislation, according to Xu Dingming, director of the Energy Bureau of the National Development and Reform Commission (NDRC), at the 2005 forum on China's investment in energy.

He said that China will issue the Energy Law as quickly as possible, amend the Electric Power Law and the Coal Law, and draft the Law on Petroleum and Natural Gas.

Facing surging oil prices, the Chinese Government will encourage the development of motor vehicles with small displacement, publish program on readjustment of price formation mechanism of oil products, and study the launch of futures market of petroleum and oil products.

Xu disclosed that China has put the drafting of the Energy Law on agenda. Legislative department of the National Peoples Congress, the State Council and the National Development and Reform Commission jointly held the second meeting on stepping up the drafting of the laws on September 20, and conducted research on reform of electric power system, oil and gas, and coal industries.

Xu said that to establish an energy-efficient society, the government should formulate administration rules on petroleum conservation, develop oil substitute product, and change the mode of economic growth.