Gao Shixian--Assistant Director General of Energy Research Institute of the National Development and Reform Commission of China

Introduction:

Researcher, Assistant of Director General and Chief of Scientific Research Management Division, a member of International Association for Energy Economics, Director of China Energy Research Institute, Director of China Coal Society, Director of China Law Society Energy Law Research Group, Director of China Petroleum Society Economic Professional Commission, Director of Nuclear Power Branch of Chinese Society for Electrical Engineering, Chief of the Secretariat of China Petroleum Society Economic Professional Commission.

He has been engaged in research on energy economics since 1987. During the period of 2001-2002, he worked in Tokyo Asia-Pacific Energy Research Center of Japan and focused on such fields as outlook on energy supply and demand, energy safety, international cooperation, and energy strategy and police research. Many subjects of which he is the project leader or main implementer have been awarded prizes of national, ministry and commission-level. He takes the initiative to participate in international exchange meetings and makes speeches on the Chinese energy polices, development strategies, energy safety and international cooperation. His articles and energy works have been published on People's Daily, Economic Daily, China Energy News, Macro Economics, Electric Power and Science on Society, etc.

Summary:

The Chinese economy has maintained stable and relatively fast growth in the past decade. It is necessary to have such a high growth rate. After the world financial crisis, China has been affected by the crisis and economic restructuring.

The Chinese economy is stabilizing as a whole this year. Economic growth has a strong positive relationship with electricity consumption. The current changes in electric power consumption also fully embody the characteristics of stability in economic development.

Internationally, the complex international economic environment, global economic slowdown, strong trade protectionism, deep contraction in external demand and slowdown in export are the main factors; domestically, decision to shift the growth model, economic slowdown, unbalanced, uncoordinated, and unsustainable development, and extensive growth are the main contributors.

China will stay committed to economic restructuring and shift of the growth model. In industrial restructuring, China will promote high and new tech industry and emerging industries of strategic significance, upgrade traditional industries, and rein in the development of energy-intensive, high-polluting, and low-value-added industries. A favorable development environment and sound economic growth rate are essential.

Oil consumption of BRICS countries keeps growing. Global energy consumption will change in the future as developing countries and emerging market economies will take a larger share.

China's crude oil production is stable yet growing slowly after it exceeded 200 million tons per year. From China's oil consumption changes we can see that China's oil consumption has been growing rapidly in recent years due to increase in per capita income and private car ownership.

In the coming years, China's demand will remain strong, which will create a huge market and provide tremendous opportunities for oil trade.