China is expected to see a balance of electricity supply and
demand with somewhat of a surplus, said a senior official with
China Electricity Council (CEC) Monday.
Wang Yonggan, Secretary-General of CEC, made the remarks at a
press conference for the "2005 China Power Forum" which is due to
be held from Wednesday to Thursday.
According to Wang, China saw a newly installed power capacity of
over 50 million kilowatts in 2004, and the figure will remain at 70
million kw annually from 2005 to 2007.
By the end of 2007, China will boast an installed power capacity
of 650 million kw, by which time the electricity supply and demand
of the country will be basically balanced, and will even have some
surpluses, said Wang.
China is the second largest installed power capacity owner and
the second largest power generator in the world next to the U.S.,
said Wang.
An annual installed power capacity of 70 million kw means an
annual investment of nearly 350 billion yuan (43.2 billion US
dollars). China has become one of the largest power markets in the
world, he said.
However, the rapid development of China's electricity industry
has also created problems such as over-investment, high
consumption, pollution and inefficiency as well as various
infrastructural problems, said Wang.
To solve these problems, China should improve its economic
policies to explore a new environmental-friendly industrialization
with better profits, lower energy consumption, and good human
resources development, he said.
Called "A New Industrialization Road of China's Power Industry
Upon Economic Globalization," a two-day forum involving over 400
officials, entrepreneurs and experts will focus on those
problems.
The forum is being sponsored by CEC and organized by the
PennWell Corporation from the US.
(Xinhua News Agency August 9, 2005)