Zhang Guobao (simplified Chinese: 张国宝; traditional Chinese: 張國寶; November 1944 – 4 October 2019) was a Chinese government official who served as Vice Chairman of the National Development and Reform Commission. (wikipedia)
It would be a great financial risk for China to buy oil at the international market for its strategic reserve program as the current global oil price has been fluctuating at a high level.
It is not correct to attribute the crude oil price hike in 2004 to the growth of oil consumption in developing nations such as China and India .
Renewable energy, including solar, wind power and hydropower, will contribute to better energy security in China,
This (scale) should be determined according to China's real conditions.
This should be determined by China's real conditions.
Any slightest fluctuation could drive speculations on the oil price.
Currently the international oil prices are at high levels. Against this backdrop, we would face big risks if we buy oil from the international market.
It also delivers substantial economic and environmental results, alleviating poverty.
And the proportion will increase to 10 per cent by 2020.
The current price is much higher than it should be, since there is not a real crude oil shortage in the world market.
