ANNOUNCEMENT 23 May 2018

May 23rd, 2018 - The Chinese government announced that 11 non-state firms would be licensed to import crude oil into the country.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE

PRC Ministry of Commerce, May 23rd, 2018. (关于辽宁、陕西、山东、河南和湖北等省11家加工企业申请原油非国营贸易进口资格的公示)
http://www.mofcom.gov.cn/article/b/e/201805/20180502747323.shtml

Inception date: 23 May 2018 | Removal date: open ended

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:

  • Dalian Jinyuan Petrochemical Co., Ltd.
  • Shaanxi Yanchang Petroleum (Group) Co., Ltd.
  • Shandong Hengyuan Petrochemical Co., Ltd.
  • Shandong Zhonghai Fine Chemical Co., Ltd.
  • Rizhao Yanqiao Petrochemical Co., Ltd.
  • Shandong Shengxing Chemical Co., Ltd.
  • Shandong Dongfang Hualong Industry & Trade Group Co., Ltd.
  • Shandong Qicheng Petrochemical Co., Ltd.
  • Zibo Xintai Petrochemical Co., Ltd.
  • Henan Fengli Petrochemical Co., Ltd.
  • Jinao Technology (Hubei) Chemical Co., Ltd.

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