BEIJING (AFX-ASIA) – A working group representing leading European energy firms will meet with Chinese counterparts next month to propose changes to China’s energy policies, including allowing foreign investors to take majority holdings in petrochemical, gas and oil joint ventures, the China Daily reported, citing a leading official with the group.
The newspaper quoted Henry Wang, chairman of the European Union Chamber of Commerce in China’s (EUCCC) Petrochemical Oil & Gas Committee, as saying the energy working group had hammered out seven major suggestions, and planned to broach them in December with China’s main energy policy decision maker, the National Development and Reform Commission.
No precise dates for the meeting were provided.
In addition to allowing foreign firms take majority holdings in domestic joint ventures, the EUCCC’s working group will advocate long-term policies to support clean energy in the country, the newspaper said.
The industry group will also broach the issues of tax unification reform, appointing independent oil and gas regulators and improving the handling of anti-dumping cases, it said.
The China Daily said the plans are the consensus agreement of the committee’s 26 members, which include leading global energy firms such as Royal Dutch/Shell Group, BP Plc, BASF AG, Electricite de France and Bayer AG.
BP China’s vice-president of gas, power and regulator affairs Xavier Chen was also quoted by the China Daily as saying China needed to be more open to international resources when drafting its energy policies.
“China’s energy policy has great influence in the international community because of its increasing energy consumption and carbon dioxide emissions,” the paper quoted him as saying.
“China needs a mechanism to improve international cooperation in studying its energy policies.”