The first draft of China's first energy law, which will shape
the country's future energy policies, will be outlined before the
end of the year, according to the National Development and Reform
Commission (NDRC).
Energy experts have called for the law, which needs two years to
be passed by the legislature, to define clearly the regulations for
foreign acquisitions and to set up an authoritative body through
which all energy projects have to be approved.
Experts also suggest that the responsibilities of the central
government and the local governments regarding the approval of
energy projects should be stipulated, along with specific
regulations on environmental and safety measures.
Meanwhile, the draft of the recyclable economy law has been
completed and will be submitted to the legislature next year,
according to a recent forum on a recyclable economy.
The 11th Five-Year Plan guiding China's
development between 2006 and 2010 emphasized that building a
recyclable economy was an important way for China to build a
resource-efficient and environment-friendly society, thus realizing
sustainable development.
As the second largest energy producer and consumer in the world
after the United States, China now has four specific energy laws,
covering the coal industry, electric power, energy conservation and
renewable energy.
However, the country has yet to draw up legislation on petroleum
and natural gas.
(Xinhua News Agency November 27, 2006)