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China: Draft energy law by end of year

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Published: Nov. 27, 2006 at 9:16 AM
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BEIJING, Nov. 27 (UPI) -- China has said it will outline its energy policies in a new draft law by the end of the year.

The National Development and Reform Commission said Monday the first draft of China's first energy law will be outlined by late December, the Xinhua news agency reported. The legislature is expected to take two years to pass the law.

Many experts see the law as a much-needed tool to define regulations for foreign acquisitions and to set up a body through which all energy projects have to be approved, the news agency reported.

Although China has laws covering coal, electricity, power conservation and renewables, it is yet to come up with a law on oil and natural gas.

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