On January 7, China's National Development and Reform Commission (NDRC) issued the "Guidelines for the Construction of a Unified National Market System (Trial)".
Source: Comprehensive Report
On January 7, China's National Development and Reform Commission (NDRC) issued the "Guidelines for the Construction of a Unified National Market System (Trial)".
The document outlines the framework for establishing a unified national energy market system. Relevant authorities are tasked with creating and refining regulations that align with the requirements of a unified national electricity market. This includes defining the scope of transaction rules, specifying the authority for rule-making, and ensuring the integration of various transaction regulations. Local regulatory bodies and authorities are required to base their work on national standards, and to collaborate in developing, revising, and improving region-specific transaction rules and details.
The guidelines also stress the importance of a principle of overall integration, urging departments and regions to adapt their approaches to local conditions. They are encouraged to clarify boundaries, guide market models, and balance interests to establish an oil and gas market system that supports the operation of a "national unified grid." The goal is to promote fair and open access to infrastructure and optimize the allocation of oil and gas resources across the country.