China has the ability to fully ensure domestic energy supply as it has achieved a self-sufficiency rate exceeding 80 percent and consolidated its energy security through a targeted strategy of diversifying imports, an official with the National Development and Reform Commission (NDRC) said on Monday.
Shrugging off the potential impact of the U.S.-initiated trade war on China, Zhao Chenxin, vice chairman of the NDRC, said at a press conference in Beijing that China has the capacity to meet domestic needs for bulk commodities like energy and grains.
"China has already put in place a diversified energy production infrastructure consisting of coal, oil, natural gas, nuclear energy, and renewable energy, with a self-sufficiency rate remaining above 80 percent. The country's annual output of crude oil remains stable at above 200 million tons, its output of natural gas has increased by more than 10 billion cubic meters annually for eight consecutive years, its coal reserves and production capacity are abundant, and its installed capacity of power generation from renewable energy sources accounts for nearly 60 percent of the total installed capacity, thus forming a complete and strengthened energy reserves system. At present, domestic energy is in abundant supply, and the market prices are generally stable," said the official.
"The United States accounts for a low proportion in China's energy imports, with a small volume of imports of U.S. crude oil, natural gas and coal in 2024, which means the energy imports from the United States takes a very low proportion in our total energy consumption. China also has diverse sources of energy imports, and the international energy market is well-supplied. Therefore, the reduction or even discontinuation of energy imports from the United States by Chinese enterprises does not affect our domestic energy supply," he noted.
China shrugs off tariff impact on domestic energy supply
China shrugs off tariff impact on domestic energy supply
