摘要
China has been undergoing a new round of ambitious reform in its energy sectors after president Xi's call for "energy revolution" in June 2014. This top-down strategy paves a way to market-oriented transition for Chinese energy govern system on both industrial level and corporation level. This paper analyzes the new trends of China's energy policy and its impacts on crude oil market as well as on Chinese state-owned petroleum enterprises. This revolution will reshape the management system of Chinese energy industry to cope with rising energy demand, supply restraints, huge environmental costs and backward technologies. With the deepening reform of oil and gas pricing mechanism and the openingup of petroleum industry, Chinese domestic energy market will be upgraded towards a more rationalized and competitive system. Mixed ownerships will be introduced to stimulate the vitality, creativity and brand influence of state-owned petroleum corporations, pushing Chinese national oil majors to collaborate jointly with various foreign oil and gas companies and the emerging domestic private companies with great entrepreneurship.
Introduction
China enjoys sustained and rapid economic growth owing to 35 years of the reform and opening-up policy. However, existing growth has come to its bottleneck since the high-speed increase was driven by input and investment, and deep-seated contradictions have been fully exposed now： Chinese government is faced up with increasing demand for clean energy, improving air quality and optimizing the energy utilization structure. On November 12, 2013, the ＂Communist Party of China （CPC） Central Committee Decision on Major Issues Concerning Comprehensively Deepening Reforms＂ （hereinafter is refered to as ＂the Decision＂） was carried out to strengthen domestic energy reform so as to way out the dilemma of development for Chinese energy sector.
