National Development and Reform Commission:

my country's energy supply is guaranteed

Impact of Russia-Ukraine conflict on energy supply is manageable

Lian Weiliang, deputy director of the National Development and Reform Commission, said that the recent escalation of the conflict between Russia and Ukraine has had an impact on the global energy market, and international crude oil and natural gas prices have further risen. Due to the high proportion of China's crude oil and natural gas extraction, it will be affected, and the import cost will objectively rise. But overall the impact is manageable. This is because China is a major energy consumer and a major energy producer on the one hand, so the overall energy supply is guaranteed. The sources of China's crude oil and natural gas imports have been diversified, and long-term contracts account for a high proportion. As long as all parties comply with the contracts, imports can remain generally stable.

 

At the same time, China is vigorously promoting the high-quality development of renewable energy and accelerating the implementation of renewable energy substitution. The rapid increase in clean energy will also effectively hedge and mitigate external impacts. In the past year, the proportion of clean energy in my country's total energy consumption increased by 1.2 percentage points; in the national power generation in the past year, the proportion of power generation from wind power and photovoltaics increased by 2.2 percentage points. The National Development and Reform Commission will Take comprehensive measures to mitigate the impact of imported inflation.

National Development and Reform Commission:

Take multiple measures to ensure the supply and price of bulk commodities in an all-round way

Changes in the prices of bulk commodities such as grain, energy, and minerals are related to people's well-being, industrial and agricultural production, and the macroeconomic market.

 

Hu Zucai, deputy director of the National Development and Reform Commission, introduced that since the beginning of this year, the international commodity price situation has become more severe, complex and uncertain due to the combined influence of multiple factors such as the new crown epidemic, the monetary policy changes of major economies, and especially the intensification of geopolitical conflicts. Recently, the international oil price broke through the US$110 per barrel mark, and it once soared to US$139 after the opening bell today. Work creates new challenges.

 

In general, China's economy is resilient, has a large market space, and has a rich policy toolbox. In particular, the grain production has been harvested year after year, the production capacity of live pigs is sufficient, and the supply of industrial and agricultural products and services is abundant. It is fully qualified, capable, and confident to continue to maintain prices. With smooth operation, the annual CPI target of around 3% set in this year's government work report is achievable. In January this year, China's CPI rose by 0.9% year-on-year, which was significantly lower than the level of 7.5% in the United States and 5.1% in the euro area.

 

Doing a good job in securing supply and stabilizing prices of bulk commodities is a heavier responsibility than Mount Tai. Facing the complex and severe situation this year, we will resolutely implement the decisions and arrangements of the CPC Central Committee and the State Council, adhere to the bottom-line thinking, implement comprehensive policies and precise control, and do our best to ensure the supply and price of bulk commodities.

National Development and Reform Commission:

Add more than 5 billion cubic meters of natural gas storage facilities

Resolutely ensure the safety and supply of energy

Lian Weiliang, deputy director of the National Development and Reform Commission, said that my country has been deeply integrated into the world economy. The rise in global commodity prices has driven the demand for energy-intensive products. Geopolitical conflicts and changes in global energy supply and demand will affect our energy security. for.

 

The National Development and Reform Commission will focus on four aspects to ensure the safety and supply of energy, specifically three "focus" and one "keep". Focus on increasing production capacity, strengthening reserves, ensuring supply and stable prices, and resolutely guarding the bottom line of energy consumption for people's livelihood. The National Development and Reform Commission will adopt a more secure and reliable supply guarantee plan to ensure a safe and reliable supply of energy. It is necessary to resolutely ensure that electricity and gas are not limited in non-extreme situations, and the gates and valves are not closed when electricity is limited in extreme situations . Through such comprehensive measures, we can ensure a safe and reliable supply of energy, so that the people and all energy users rest assured.

 

Source: Petroleum and Chemical Park