By Deng Yusong　

Date: 2005/03/01

Abstract:

In 2004, driven by a strong demand, the production of energy grew rapidly; the import of major energy products was increased significantly while export was reduced markedly. Energy price inflated greatly. In 2005 the growth rate of energy demand will decline to some extent and the tight supply-demand situation will be eased compared with that in 2004. The annual electricity generation volume will increase by 12 percent year-on-year, the coal production will increase by 8.5 percent year-on-year and the apparent consumption of finished oil will increase by 10 percent year-on-year. The prices of coal and electricity are expected to inflate; the fluctuation of international petroleum price is expected to slow down. The suggestions are: to push forward the reform of price formation mechanism, to establish and gradually improve an energy products reserve system and to attach emphasis to the international trade of high energy-consumption products.