With its goal to double GDP by 2020, China faces a shortage of about 6 billion tons of oil, 600 million cu m of natural gas, 3.5 billion tons of steel, 50 million tons of copper and 60 million tons of alumina, Wang said.
He said it was the government's plan that by 2010, the domestic market will be served by 200 new mineral bases.
The country has already set up a system for oil and natural gas reserve, he said.
The first two oil reserves in Zhenhai and Zhoushan, both in Zhejiang province, are now operational, while two others, located in Huangdao, Shandong province, and Dalian, Liaoning province, are nearing completion.
The goal is to have 12 million tons of strategic oil reserves, equivalent to 30 days of imported oil, by 2010, Wang said.
In a related development, a source with the China Coal Industry Association told China Daily earlier that the Office of the National Energy Leading Group has entrusted it to conduct "strategic research" on exploration and consumption of coal, which forms nearly 70 percent of the country's energy mix.
Meanwhile, Wang also said that the government reshuffle will help "clarify the boundaries" between the ministries currently responsible for energy.
The State Council this week unveiled plans to restructure the government to streamline policymaking.
It involves the establishment of a high-level National Energy Commission to integrate management and functions that are currently undertaken by many agencies.
Wang said he was optimistic that coordination in the energy sector will improve following the changes, despite some industry insiders expressing disappointment there is still no sign of a unified energy ministry to help eliminate jurisdictional overlaps.
(China Daily March 15, 2008)