WANG Junhao,MU Xiuzhen:Restructuring and Differentiated Regulatory Policies in China’s Petroleum Industry

Abstract：Main businesses of petroleum industry in China are monopolistic.However, the reasonability of monopoly needs to be discussed according to its technical and economic characteristics.Research result shows that petroleum pipeline transportation business is natural monopolistic while other businesses are not.Those who are monopolistic only because of governmental policies lead to inefficiency.In order to improve productive efficiency and reduce efficiency losses, we propose three restructuring patterns of the petroleum industry—the Access Control Mode, the Ownership Separation Mode and Mutual-benefit Network Mode.These three modes have both advantages and disadvantages.According to the status of our petroleum practice, we think that the best choice is the Access Control Mode.In order to improve the restructuring effect of regulatory pattern, we designed three differentiated regulatory policies, including differentiated entry regulation policies, differentiated price regulation policies and differentiated distribution of different ownership enterprises policies.

Key words： Petroleum Industry    Efficiency Loss    Restructuring    Differentiated Regulation

source:Finance & Trade Economics ,No.5,2015