Private companies will be further encouraged to invest in energy development, utilization and infrastructure construction as the country's energy sector shifts toward greater market-driven dynamics, according to China's top energy authority.

The government plans to enhance private sector involvement in major energy projects this year, including nuclear power, energy storage and smart grids, to promote a more efficient and smooth operation of the market, as stated by the National Energy Administration.

The administration will continue to encourage private enterprises to participate in the nuclear power industry's supply chain and invest in nuclear power projects. Furthermore, the government will continue to support private companies in various oil and gas exploration, power infrastructure construction and other projects, it said.

A particular focus will be placed on supporting private businesses to invest in and develop new technologies, such as new energy storage, smart microgrids and innovative business models.

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