Page:China's Energy Conditions and Policies (2007).pdf/12

 — Incomplete market system and emergency response capability yet to be enhanced. China's energy market system is yet to be completed, as the energy pricing mechanism fails to fully reflect the scarcity of resources, its supply and demand, and the environmental cost. Order in energy exploration and development must be further standardized, and the energy supervisory system improved. Coal production safety is far from satisfactory, the structure of power grids is not rational, the oil reserves are not sufficient, and an effective emergency pre-warning system is yet to be improved and consolidated to deal with energy supply breakdowns and other major unexpected emergencies. 10