China's oil imports exceeds 100 million tons in 2003

Home>>Business

Last updated at: (Beijing Time) Sunday, February 08, 2004

China's oil imports exceeds 100 million tons in 2003

China imported 91.12 million tons of crude oil and 28.24 million tons of refined oil in 2003, up 31.3 percent and 38.8 percent year-on-year respectively, the customs said on Feb. 8.

DISCUSSION

CHINESE

SEND TO FRIEND

China imported 91.12 million tons of crude oil and 28.24 million tons of refined oil in 2003, up 31.3 percent and 38.8 percent year-on-year respectively, the customs said on Feb. 8.

China spent a total of 16.5 billion US dollars for the imports, increasing by half from a year earlier, according to the General Administration of Customs.

Trade experts attributed the sharp rise to China's soaring economy, which grew by 9.1 percent last year and prompted demand for energy resources.

The rising consumption of motor vehicles and housing also contributed to the growing demand for oil products.

China had 96.5 million motor vehicles on road by 2003, when 2.07 million cars were produced and 2.04 million were sold. Car production is projected to top 2.8 million this year, a jump of 40percent year-on-year.

Experts predicted that China would import more than 500 million tons of oil and over 100 billion cubic meters of natural gas in 2020.

Source: Xinhua

Questions?Comments? Click here

China '04 oil product import rules crimp fuel oil trade

Crude imports to reach 120 million ton in 2004

China to increase oil-supply security

China, Wi-Fi fight for WLAN standard ( 4 Messages)

US visa rules anger students ( 13 Messages)

Beijing to build two new Christian churches ( 4 Messages)

Australian PM appalled at attack on Chinese restaurants ( 8 Messages)

China concerned about Japan dispatching troops to Iraq: FM spokeswoman ( 3 Messages)