ANNOUNCEMENT 09 Dec 2015

December 9th, 2015 - 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, December 9th, 2015. (商务部关于公布2015年第二批成品油(燃料油)非国营贸易进口企业名单的通知)
http://www.mofcom.gov.cn/article/b/e/201601/20160101225897.shtml

Inception date: 09 Dec 2015 | Removal date: open ended
Still in force

Import licensing requirement

In December 2015, the Chinese government added the following non-state firms to the roster of those allowed to import fuel oil for refining:

  1. Dongguan Chuang Electromechanical Products Co., Ltd.
  2. Hebei Xinhai Chemical Group Co., Ltd.
  3. Shandong Express Logistics International Trade Co., Ltd.
  4. Jining Haoyuan Chemical Trading Co., Ltd.
  5. Tongmei Coal Storage and Distribution (Weihai) Co., Ltd.
  6. Shandong Wanfuda Chemical Co., Ltd.
  7. Shandong Step Group Co., Ltd.
  8. Xinjiang Wujiaqu Modern Petrochemical Co., Ltd.
  9. Dongying Shuntong Import and Export Co., Ltd.
  10. Shandong Jinbo Chemical Co., Ltd.
  11. China Building Materials Energy Shanghai Co., Ltd.
  12. Xinjiang Energy (Group) Oil and Gas Co., Ltd.
  13. Jilin Province Li'an Petrochemical 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.

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AFFECTED PRODUCTS