Chinese Energy Industry
During the Tenth Five-year Plan, according to statistics released from the Ministry of Commerce, China totally introduced more than 1700 technologies in areas of supply and utilization of electric power, coal mining and dressing and oil and gas exploitation from 2001 to 2005, the contract value amounted to US$9.34 billion, accounting for 12.9% of total contract value of introduced technologies of all fields in the same period.
Introduction, digestion and absorption of foreign advanced technologies pushed forward the development of Chinese energy industry, effectively eased up the restriction on economic development owning to the shortage of energy. At the end of 2005, installed power generation capacity of China was 500 GW, and the annual power production 2.4 trillion KWh, ranking No.2 worldwide. In 2005, output of coal broke through 2.1 billion tons, and a batch of modern mines was established. Output of crude oil reached 180 million tons, up by 3.7% on a year-on-year basis. The foreign dependency rate of petroleum was down by 2.2% compared with that of the previous year.