ANNOUNCEMENT 06 May 2019

May 6th, 2019 - 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 Commerce, May 6th, 2019. (关于2019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/c/201905/20190502860064.shtml

Inception date: 06 May 2019 | Removal date: open ended
Still in force

Import licensing requirement

On May 6th, 2019, the Chinese government added 25 non-state firms to the roster of those allowed to import fuel oil for refining. Please see the original announcement from MOFCOM for the full list.

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