China further opens energy sector

China is committed to a stable global energy market and is further opening its energy sector to the world, said a white paper released Monday.The country has greatly eased market access for foreign investment, and has built a market-based international business environment that respects the rule of law to facilitate free trade and investment, according to the white paper titled “Energy in China’s New Era” released by the State Council Information Office.

The document said the country has adopted pre-establishment national treatment plus a negative list, reducing restrictions on foreign investment’s access to the energy sector. It has lifted the restrictions for foreign investment to enter the sectors of coal, oil, gas, electricity which excludes nuclear power, and new energy, according to the white paper.
China is also promoting the energy industry in pilot free trade zones such as Guangdong, Hubei, Chongqing and Hainan, and supports further opening up of the entire oil and gas sector in the China (Zhejiang) Pilot Free Trade Zone, said the white paper.

International energy companies have been steadily expanding investment in China, with major foreign investment projects such as Tesla’s Shanghai plant being launched one after another and the number of foreign-funded gas stations growing rapidly, the white paper said.

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