China’s policy primarily focuses on energy conservation and natural resource development. It is also centered on discovering alternative sources, increasing more efficient consumption, developing environmentally-friendly energy sources, and strengthen ...
China’s policy primarily focuses on energy conservation and natural resource development. It is also centered on discovering alternative sources, increasing more efficient consumption, developing environmentally-friendly energy sources, and strengthening diplomatic ties for energy dependence.
One of the major long-term issues facing China is how to resolve the unbalanced supply and demand stemming from the disproportionately large concentration of natural resources in the western parts of the country and the rising level of energy consumption in the southeastern coastal regions.
Despite the increasing energy need accompanied by China’s economicgrowth, the country faces a number of problems, including inefficient consumption, dearth of up-to-date equipment for resource development, lack of business competitiveness, and general weakness of the energy industry.
In order to meet the current demand, Chinaseeks to develop how to recycle energy resources and to discover multipurpose or diversified ways of energy use.
In addition, China’s official policy is characterized by the following concerns: reforming the management of the energy industry, revamping the industrial organizations, improving the structure of business management, liberalizing the energy market, and diversifying the energy supply through foreign cooperation.
Key factors that affect China’s future energy situation include population increase, the rate of economic growth and developmental policy, urbanization and industrialization.
Considering the distribution of natural resources in China, it is likely that the supply and demand of energy among different industrial sectors, driven by economic growth and policy, will become more uneven.
In light of China’s current situation, research is needed not only to analyze the its industry-specific structures of the supply and demand for energy, but also to reevaluate and reformulate Korean government’s official stance toward the bilateral industrial cooperation.