Source: CCTV.com

03-02-2007 17:12

With its booming economy and massive energy needs, one of China's top priorities is to ensure energy security. The country has long turned to foreign providers. On Thursday, The National Development and Reform Commission, China's top planning agency, identified nine oil and gas-producing countries considered the most suitable for Chinese investment.

The nine countries are Kuwait, Qatar, Oman, Morocco, Libya, Niger, Norway, Ecuador and Bolivia. They are a part of a list of 32 economies where Chinese companies are offered incentives to invest. The commission says that Chinese companies can get tax breaks or other incentives for investing in oil and gas industries in those countries.

China's state-owned petroleum industry has spent billions of dollars on oil and gas ventures around the world, trying to increase supplies as reliance on imported energy soars. The NDRC's announcement gave no details of the incentives offered to Chinese companies.

Editor:Du Xiaodan