The deepest borehole to be drilled for scientific purposes by Asians-the first to penetrate a continental layer of strata from the earth's Cretaceous period-was completed in northeastern China on Saturday, four years after it began. It reached a depth of 7,018 meters.

Experts said China's energy sector needs to further open up and develop alternative resources as the nation's energy consumption continues to rely heavily on coal and imported petroleum.

China is looking to boost its role in global commodity markets by allowing foreign investors to trade iron ore futures on the Dalian Commodity Exchange from Friday, a move which should help the country gain some pricing power over the key ingredient in steel.

China will continue to be the driving force for global energy demand through 2020, but its energy growth will slow significantly as it transitions to a more sustainable pattern of economic growth,

More Articles …

Baidu
map