field of energy, China has not only shouldered a wide range of international obligations, but also played an active and constructive role.
China has made active efforts to improve laws and policies related to its opening-up, promulgating in succession the Law on Sino-foreign Equity Joint Ventures, Law on Sino-foreign Cooperative Joint Ventures and Law on Foreign Capital Enterprises to create a fair and open environment for foreign investment. In 2002, China formulated the Regulations for the Guidance of Foreign Investment Orientation, and revised the Catalogue of Industrial Guidance for Foreign Investment and the Catalogue of Advantageous Industries for Foreign Investment in the Central and Western Regions in 2004, in order to encourage foreign investment in the energy sector, including energy and energy-related exploitation, production, supply, transportation and energy equipment production, as well as in the energy sector of the central and western regions.
— Improving external cooperation in the exploration and development of oil and gas resources. China has implemented a cooperative mode based on product-sharing contracts with other countries in the field of oil and gas resources. In 2001, China promulgated the revised Rules on External Cooperation for Ocean Oil Exploitation as well as Rules on External Cooperation for Onshore Oil Exploitation. China protects the legitimate rights and interests of foreign business people participating in collaborative oil exploitation. It encourages foreign business people to participate in cooperation in oil exploration and development, such as risk exploration for oil and natural gas, low-permeability oil and gas reservoirs (fields), and the improvement of the recovery rate of old oilfields. It encourages foreign investment in the construction and operation of oil and gas pipelines, as well as special oil and gas storages and port berths.
— Encouraging foreign investment in exploration and development of unconventional energy resources. In 2000, China promulgated the Opinions on Further Encouraging Foreign Investment in Exploring and
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