ABSTRACT
As an important component of China's energy system revolution leading to the year 2030, the energy system revolution can be understood as the fundamental changes of institutions for the entire energy sector. On the 6th meeting of the Central Leading Group for Financial and Economic Affairs held on June 13, 2014, President Xi Jinping put forward five requirements on the advancement of China's energy revolution. President Xi expounded that Chinese need to 'advance energy system revolution and open a fast lane of energy development'. He emphasized that efforts made to resolutely advance the reform and to recover the commodity attributes of energy. He assesses how to construct effective competitive market structure and market system; and to create mechanisms where market plays a decisive role in determining energy prices. He explores how to transform the governmental administration and regulation on energy; and to establish and improve the legal system for the energy sector.
