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Deepen reforms in State-controlled sectors
(Xinhua)
Updated: 2005-07-10 08:55 China will quicken its pace to introduce a
market-oriented mechanism to State-controlled power, telecommunications,
railways, civil aviation and oil industries, said an official from the National
Development and Reform Commission (NDRC) Saturday.
At a seminar held in Harbin, capita of Northeast China's Heilongjiang
Province, NDRC Vice-Secretary General Cao Yushu defined the reform of the oil
industry as being "difficult and sensitive" because the industry has a
particular bearing on the nation's development.
"We have to conduct careful and in-depth studies before arranging specific
moves to reform oil and other monopolized industries," said Cao at the seminar
on the reform and development of the oil industry in Heilongjiang Province,
which is home to Daqing Oilfield, the country's major crude oil producer.
China began to allow foreign enterprises to retail finished oil products in
January 2005 and has promised to open the wholesale market of crude and finished
oil products to foreign entities in January 2007.
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