ANNOUNCEMENT 14 May 2018

May 14th, 2018 - 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, May 14th 2018. (关于2018年第一批燃料油非国营贸易进口申请企业有关情况的公示)
http://www.mofcom.gov.cn/article/b/e/201805/20180502742930.shtml

Inception date: 14 May 2018 | Removal date: open ended
Still in force

Import licensing requirement

In May 2018, the Chinese government added the following non-state firms to the roster of those allowed to import fuel oil for refining:

  1. Heilongjiang Longrun International Trade Co., Ltd.
  2. Guangdong Fuel 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