Greater China

China to open up crude oil import rights

Beijing: The central government of China is expected to open up crude oil import rights to private companies, Chinese local media reported.

According to a government official, the National Development and Reform Commission (NDRC) will issue oil import permits to selected companies in the next two weeks and Ministry of Commerce will allocate quotas to the companies.

Fan Bize, an senior official from State Council, said China will further open the crude oil import right in the future, and the government has been working on the details. [01/08/14]

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