ANNOUNCED AS TEMPORARYNo
Import-related non-tariff measure, nes
On May 23rd, 2018, the Chinese government announced the list of non-state-controlled refineries that would be allowed to conduct crude oil imports in the PRC.
Such firms must satisfy a set of requirements to be able to apply for such licensing. The requirements are to ensure that the firms are large and well-established enough, and in possession of all the required mechanisms to conduct such trading.
While all firms announced so far are native Chinese, annoucements such as this demonstrate a move away from the complete state monopoly on oil trading seen in China in past years.
The firms included in the announcement are as follows:
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