Economy of the People's Republic of China

:The economies of Hong Kong and Macau are separate from the rest of the People's Republic of China. This article is on the economy of mainland China. See also: Economy of Hong Kong and Economy of Macau

Energy and mineral resources

Electricity:

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• production: 1,910 TWh (2003)
• consumption: 1,630 TWh (2003)
• exports: 10.38 TWh (2002)
• imports: 2.3 TWh (2002)

Electricity - production by source:'

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• fossil fuel: 80.2%
• hydro: 18.5%
• other: 0.1% (2001)
• nuclear: 1.2%

Oil:

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• production: 3.392 million barrel/day (2003 est.)
• consumption: 4.956 million barrel/day (2002 est.)
• exports: 427,800 barrel/day (2002)
• imports: 2.414 million barrel/day (2002)
• proved reserves: 17.74 billion barrel (2004 est.)

Natural gas:

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• production: 35 billion m³ (2003 est.)
• consumption: 29.18 billion m³ (2002 est.)
• exports: 0 m³ (2002 est.)
• imports: 0 m³ (2002 est.)
• proved reserves: 2.23 trillion m³ (2004)

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Over the past decade China has managed to keep its energy growth rate at just half the rate of GDP growth, a considerable achievement. Although energy consumption slumped in absolute terms and economic growth slowed during 1998, mainland China's total energy consumption may double by 2020 according to some projections. China is expected to add approximately 15,000 megawatts of generating capacity a year, with 20% of that coming from foreign suppliers. Beijing, due in large part to environmental concerns, would like to shift China's current energy mix from a heavy reliance on coal, which accounts for 75% of China's energy, toward greater reliance on oil, natural gas, renewable energy, and nuclear power.

Related Topics:
Energy - Megawatt - Natural gas - Renewable energy - Nuclear power

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The PRC has closed some 30,000 coal mines over the past 5 years to cut overproduction. This has reduced coal production by over 25%. Since 1993, China has been a net importer of oil; today imported oil accounts for 20% of the processed crude in China. Net imports are expected to rise to 3.5 million barrels (560,000 m³) per day by 2010. China is interested in developing oil imports from Central Asia and has invested in Kazakhstan oil fields. Beijing is particularly interested in increasing China's natural gas production - currently just 10% of oil production - and is incorporating a natural gas strategy in its tenth 5-year plan (2001-2005), with the goal of expanding gas use from its current 2% share of China's energy production to 4% by 2005 (gas accounts for 25% of U.S. energy production).

Related Topics:
Coal mines - Crude - Barrel - Central Asia - Kazakhstan - Oil field - 5-year plan - 2001 - 2005

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Beijing also intends to continue to improve energy efficiency and promote the use of clean coal technology. Only one-fifth of the new coal power plant capacity installed from 1995 to 2000 included desulphurization equipment. Interest in renewable sources of energy is growing, but except for hydropower, their contribution to the overall energy mix is unlikely to rise above 1%-2% in the near future. China's energy section continues to be hampered by difficulties in obtaining funding, including long-term financing, and by market balkanization due to local protectionism that prevents more efficient large plants from achieving economies of scale.

Related Topics:
Energy efficiency - Clean coal technology - Desulphurization - Hydropower - Economies of scale

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See also:

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• Xihu Trough
• Daqing Field
• Three Gorges Dam
• Daya Bay