ANNOUNCEMENT 13 Jun 2017

June 13th, 2017 - 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 13th, 2017. (商务部关于公布2017年第一批成品油(燃料油)非国营贸易进口企业的通知)
http://www.mofcom.gov.cn/article/b/e/201706/20170602595094.shtml

Inception date: 13 Jun 2017 | Removal date: open ended
Still in force

Import licensing requirement

In June 2017, the Chinese government added the following non-state firm to the roster of those allowed to import fuel oil for refining:

Ningbo Junan Supply Chain 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