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China's crude oil imports this year will exceed 100 million tons for the first time as a result of staggeringly high energy demand for economic development.
A senior official from the State Development Planning Commission said at a recent meeting in Shanghai that it is estimated China will produce about 180 million and import 100 million tons of oil this year.
Analysts say energy shortages have become a key problem for China's development.
At present, China's future energy policy faces two options: seek increased energy supply from overseas or change the current pattern of economic growth based on high energy consumption and low production efficiency.
There is fear that the first option would make China too dependent on foreign suppliers. Some analysts therefore suggest the second option, which is more in line with the demands of sustainable development.
(CRI November 17, 2004)
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