increase dialogue and cooperation and take a comprehensive approach to address the problem. This meets the common interests of all countries.

To ensure global energy security, we need to develop and implement a new energy security concept that calls for mutually beneficial cooperation, diversified forms of development and common energy security through coordination. Specifically, efforts should be made in the following three priority areas:

First, enhance cooperation for mutual benefit in energy development and utilization. To ensure global energy security, it is important to strengthen dialogue and cooperation between energy exporters and consumers and among major energy consumers. The international community should strengthen policy coordination and improve mechanisms for monitoring the international energy market and responding to energy emergencies. Oil and natural gas exploitation should be stepped up to increase supply to ensure globalized and diversified energy supply. To meet global energy demand, it is imperative to ensure stable and sustainable international energy supply and reasonable prices on the basis of general balance between supply and demand.

Second, put in place a system for R&D and extension of advanced energy technologies. To conserve energy and develop diverse forms of energy is of far-reaching importance to ensuring long-term global energy security. The international community needs to strengthen R&D and promote energy-saving technology, and support all countries in their efforts to enhance energy efficiency, conserve energy and reduce energy consumption per unit GDP. We should encourage cooperation in clean-coal technology and other efficient ways of using fossil fuels, promote international cooperation in R&D of key technologies in renewable energies, hydrogen power, nuclear power and other energy resources and explore the possibility of building a future global energy supply system that provides clean, safe, economical and reliable energies. We need to view cooperation in these areas as part of the overall efforts to ensure sustainable development of human society. We need to increase capital investment, enhance IPR protection and technology extension and enable all countries to share the benefits.

Third, maintain a sound political climate favorable to energy security and stability. Global peace and regional stability are critical to ensuring global energy security. We should join hands to safeguard stability of energy-producing countries and regions, the Middle East in particular, ensure security in international energy shipping routes and prevent geopolitical conflicts from disrupting energy supply. Countries should resolve differences and disputes through dialogue and consultation. Energy issues should not be politicized, still less should countries willfully resort to force in tackling energy issues.

China places great importance on the energy issue. China's energy strategy can be summarized as follows: Give high priority to conservation, rely mainly on domestic supply, develop diverse energy resources, protect the environment, step up international cooperation of mutual benefit, and ensure the stable supply of economical and clean energies. China is a major energy consumer. But China is also a major energy producer. Since the 1990s, China has met over 90 percent of its energy needs with domestic supply. China has rich coal reserves. Two-thirds of its hydropower resources remain untapped. The development of nuclear, wind and bio-mass power in China has just started and there is great potential for expanding energy supply from domestic sources. China's plan for its economic and social development between 2006 and 2010 calls for doubling the per-capita GDP of 2000 while reducing by 20 percent the energy consumption per-unit GDP at the end of 2005 by 2010. We will make proper use of the international energy market and strengthen win-win cooperation with other energy producers and consumers on the basis of equality and mutual benefit to jointly safeguard global energy security.