IV. Improving the Energy Supply Capacity
For a long time China has relied largely on domestic energy resources to develop its economy, and the rate of self-sufficiency has been above 90 percent, much higher than that in most developed countries. China is now the second biggest energy producer in the world, and has a relatively strong foundation for the energy production and supply. In the course of building a moderately prosperous society, China will rely mainly on domestic energy resources, give priority to optimizing its energy mix, and work hard to increase its energy supply capacity.
China boasts great potential in energy resources exploitation. Coal resources already verified only account for 13 percent of the total deposits, and recoverable reserves account for 40 percent of the discovered resources. Only 20 percent of the country's hydropower resources have been utilized so far. Verified oil reserves are 33 percent of the total deposits, and China has begun to enter the middle phase of oil prospecting, still seeing a big potential. Proven reserves of natural gas account for 14 percent, showing that China is in the early stage of exploration and indicating bright prospects in this sphere. Regarding non-conventional energy, China is still at the early stage of exploitation and utilization, with a great potential for development. As for renewable energy, China has only just started in its exploitation and utilization, so there is immense room for development in this regard. Good prospects are also seen for conserving, making comprehensive use of and recycling resources.
To increase its energy supply capacity, China will take the following measures:
