By Meng Chun, Feng Shiliang　

Date: 2004/08/06

Abstract:

Based on a study on recent international petroleum price variations and its impact on China's economic development, the article made the following policy recommendations: (1) Put more effort and support in exploring oil and natural gas in China; (2) Give more support in overseas exploring of oil and natural gas; (3) Set up modern market price risk management mechanism and back up the oil companies in futures market and bonded business; (4) Issue laws on petroleum related business to exercise comprehensive government control on petroleum comprising exploration, production, transportation and trading; (5) To set up professional management agencies on energy.