IDEAS home Printed from https://ideas.repec.org/h/spr/sprchp/978-981-19-6778-8_13.html
   My bibliography  Save this book chapter

Oil Market Reforms and Pricing Policy Evolution in China

In: The Handbook of Energy Policy

Author

Listed:
  • Fei Wu

    (Southwestern University of Finance and Economics)

  • Dayong Zhang

    (Southwestern University of Finance and Economics)

  • Xiaolei Sun

    (Chinese Academy of Sciences)

Abstract

Crude oil is a key part of modern industry, and the establishment of the oil sector has significantly contributed to economic advances in China. Building from scratch, China established a comprehensive system, serving the massive demand arising from the country’s phenomenal economic growth. The current system is the consequence of a series of reforms and the reforms continue. In this chapter, we review the history of China’s crude oil market, paying special attention to the evolution of pricing policies. The current challenges in China’s oil sector and possible solutions are also discussed, in view of the ever-increasing dependence on the international oil markets and complexity of the global oil system. A systemic perspective is needed in reviewing and evaluating the pros and cons of oil and gas market reform policies. The evaluation should be based on four major criteria: efficiency, social welfare, risk, and sustainability. Although most extant studies focus on only one of those criteria, a sound policy evaluation system should cover all these dimensions and assess major strategic decisions from a systemic perspective.

Suggested Citation

  • Fei Wu & Dayong Zhang & Xiaolei Sun, 2023. "Oil Market Reforms and Pricing Policy Evolution in China," Springer Books, in: Farhad Taghizadeh-Hesary & Dayong Zhang (ed.), The Handbook of Energy Policy, chapter 11, pages 317-343, Springer.
  • Handle: RePEc:spr:sprchp:978-981-19-6778-8_13
    DOI: 10.1007/978-981-19-6778-8_13
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sprchp:978-981-19-6778-8_13. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.