中国能源安全：前景、挑战和机遇.pdf

THE BROOKINGS INSTITUTION CENTER FOR NORTHEAST ASIAN POLICY STUDIES CHINA’S ENERGY SECURITY: PROSPECTS, CHALLENGES, AND OPPORTUNITIES Dr. Zhang Jian Consultant, Office of the Chief Economist, World Bank CNAPS Visiting Fellow, China, Autumn 2009 July 2011 THE BROOKINGS INSTITUTION 1775 Massachusetts Avenue, NW Washington D.C. 20036-2188 Tel: (202)797-6000 Fax: (202)797-2485 Executive Summary The global financial crisis enhanced and hastened China’s rise in the international market. For example, China has increased its imports of energy resources in the wake of the crisis, and half of the oil that China consumes comes from foreign sources – especially from countries in the Middle East, Africa, and Central Asia. China must search continuously for solutions to its problem of rising energy demand. In addition to importing oil from abroad to meet domestic energy demands for the short term, Chinese enterprises have also been investing directly in foreign firms to assemble long term and more secure energy supplies. These enterprises have engaged in acquisitions and mergers, and portfolio investments such as foreign bonds, stocks, and financial derivatives. The impact of the recent global financial crisis, as well as turmoil in many parts of the Middle East and North Africa in early 2011, have caused Beijing to further realize the importance of energy source diversification, the linkage of fiscal and monetary policy with energy policy, especially monetary policies that relate to international energy commodity trading, equity markets, and financial markets. Japan’s recent nuclear crisis caused China to temporarily halt its nuclear development plans and reconsider nuclear safety issues and future nuclea