Private capital encouraged into energy sector

BEIJING - China encourages private capital entering the energy sector as part of the efforts to promote the sector's market-oriented reform, according to a white paper released Wednesday.

The reform is expected to "give full play to the fundamental role of the market in allocating resources", according to the white paper on China's energy policy released by the Information Office of the State Council.

"All projects listed in the national energy program, except those forbidden by laws or regulations, are open to private capital," the white paper says.

The nation encourages private capital to invest in fields including the exploration and development of energy resources, oil and natural gas pipeline network construction and the electric power industry, according to the white paper.

The government will also encourage private investors to participate in coal processing, oil refining, as well as developing new energy and renewable energy sources, the white paper says.

The white paper also stresses the improvement of energy-related laws and regulations and promote the management of the energy sector.