China’s two decades of rapid economic growth have fueled a demand for energy that has outstripped domestic sources of supply. China became a net oil importer in 1993, and the country’s dependence on energy imports is expected to increase significantly over the next 20 years. It is projected that China will need to import some 60 percent of its oil and at least 30 percent of its natural gas by 2020. This scissors-like gap between domestic supply and demand has forced the Chinese government to abandon its traditional goal of energy self-sufficiency and look abroad for energy resources.
After the implementation of open and reform policy, China not only searched for new source of energy locally, but also searched for foreign source of energy. China intended to assure the safety of energy by the integration of “two resources, two markets”. Otherwise, from the angle of safety strategy of energy, China’s strategy for energy security is not safe enough for the diffculty of implementation of the policy, the incomplete construction of strategic petroleum reserve, and the lack of infrastructure of energy.