ANNOUNCEMENT 03 Feb 2015
February 3rd, 2015 - The Chinese government announced a sectoral support policy.
NUMBER OF INTERVENTIONS
PRC National Energy Administration, February 3rd, 2015. (国能煤炭〔2015〕34号 国家能源局关于印发煤层气勘探开发行动计划的通知)
On February 3rd, 2015, the Chinese National Energy Administration released Guo Nengmeitan 2015/34 (hereafter, 'Plan'), an 'Action Plan' that solidified some of the intentions laid out in a national-level announcement from 2013 (see related measure).
The Plan promised increased financial support to the coalbed methane extraction industry, in the form of increased provision of state budgets to invest in firms in the industry.
The Plan contained several other instruments to support eligible firms, for example, accelerated approval for coalbed methane project proposals.
This plan stemmed from a large scale plan from the State Council released in 2014 to target certain areas of the Chinese energy industry in order to modernise it.
Several preferential policies stemmed from this action plan, please see related acts for examples of these and this Plan's parent policy mentioned above.