China able to manage 94 percent of its energy demand

In 2004, China imported 117 million tons of crude oil, but China pursues a sustainable development of energy and the situation that it can be self-sufficient in 94 percent of its energy demand will not change on the short run, according to Zhang Guobao, vice chairman of China's National Development and Reform Commission (NDRC).

Zhang made the remarks at a press conference held by the State Council Information Office on September 13.

China's primary energy production amounted to 1.845 billion tons of coal equivalent (TCE) in 2004 and total consumption of energy reached 1.97 billion TCE. China has become the world second largest energy producer and consumer. China's annual crude oil output is 175 million tons and that of coal is 1.956 billion tons. It imported 117 million tons of crude oil and exported more than 80 million tons of coal and 56 percent of world total coke export. Some 94 percent of China's energy consumption depends on its own supply, with an external dependency rate standing merely at 6 percent.

Zhang said, China's crude oil import accounts for 6.31 percent of world trade volume. The figure of the United States is 26.9 percent and that of Japan 11. 3 percent. China's crude oil import is 23 percent of the United States and 56 percent of Japan. In recent years, crude oil prices increased on the international markets and some people attribute this to the increase of demands in the emerging countries such as China and India. It is not accurate.

Zhang said, China has planned to build a national strategic petroleum reserve system, but it would not buy crude oil from the world market to fill in its reserve when the oil price remains high.

From 1978 to 2004, China had been maintaining a 9.4-percent economic growth with a 4.8-percent growth of energy consumption. From 1990 to 2004, China's energy consumption in per 10, 000 yuan of GDP decreased 45 percent. But this figure is still three times that of the world average. China still has a long way to go in energy saving and building a conservation-minded society.

By People's Daily Online