ANNOUNCEMENT 26 Jun 2011

June 26th, 2011 - The Chinese government published a list of non-state enterprises officially sanctioned to import fuel oil for refining.

 

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE

PRC Ministry of Finance, June 26th, 2011. (关于2011年成品油(燃料油)非国营贸易进口允许量新申报材料合格企业名单上网公示的通知)
http://www.mofcom.gov.cn/aarticle/b/e/201106/20110607617701.html

Inception date: 26 Jun 2011 | Removal date: open ended
Still in force

Import licensing requirement

In June 2011, the Chinese government added the following non-state firms to the roster of those allowed to import fuel oil for refining:

  1. Shaanxi Dongda Petrochemical Co., Ltd.
  2. China Building Materials International Trading Co., Ltd.
  3. Yingkou Jiachen Combustion Co., Ltd.
  4. Panjin Xinglong Petrochemical Industrial Development Co., Ltd.
  5. Shiyou Chemical (Yangzhou) Co., Ltd.
  6. Shandong Daxin Chemical Co., Ltd.
  7. Dongying Wanghao Chemical Co., Ltd.

Chinese policy dictates that non-state importers must acquire this permission to carry out any fuel oil imports, ensuring state-run firms have an advantage.

In order to qualify for these licenses, independent firms must satisfy various conditions, mainly relating to the size of the firm, e.g. it must have a credit line of USD 20m (specifically USD, not Chinese RMB) and be prepared to import a minimum of 50,000 tons of fuel oil per year.

The total non-state national fuel oil import quota is 16.2m tonnes.

AFFECTED SECTORS

 

AFFECTED PRODUCTS