According to the new draft law on energy submitted for discussion by the government, China is planning to unify the management of all energy resources such as coal, oil, electricity and natural gas under a single administrative authority.
According to the new law, the government will also adopt a market-based energy pricing system. Under the system, the prices of energy products will be determined according to liberal market principles. However, for products provided through monopolized pipe or power lines, the government will continue to determine the price itself.
The draft law will be discussed until February 2008, when it is expected to have reached its final shape.