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China's crude oil and refined oil exports decreased

www.chinanews.cn 2005-02-16 13:00:01

Chinanews, Feb. 15 - With rapid economic growth, energy has become one of
the bottlenecks that stand in the way of China's sustainable economic
development. Since Jan. 1, 2004 when China reduced or even abolished
export tax rebates for crude oil and refined oil exports in order to
appropriately limit exports of resources in short supply, China's crude
oil and refined oil export volume has dropped sharply.
Statistics show that China's crude oil export volume and value dropped
32.5% and 20.3% respectively to 5.49 million tons and 1.32 billion USD;
refined oil exports decreased 17.1% to 11.46 million tons, and its value
increased 6.3% to 3.96 billion USD. Gas export declined 28.3% to 5.41
million tons. The Export volume of kerosene and other fuel oils increased
9.5% and 140% respectively to 2.05 million tons and 1.82 million tons.
Before the 1990s, crude oil exports had been a key mechanism for earning
foreign exchange. With increasing oil demand for economic development,
China has become a net crude oil importer since the mid-1990s, and crude
oil export has gradually declined. Currently, China is exporting a small
quantity of crude oil mainly to abide by its long-term trade agreements
with other countries, and refined oil export is mainly for the oil
processing trade.

E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax:
8610-68327649

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