Home>News Center>China
           
     

    Oil prices eating away at Chinese economy
    (AFP/chinadaily.com.cn)
    Updated: 2005-09-12 09:36

    Rocketing global oil prices are eating away at the high-flying Chinese economy, provoking a slowdown that officials and analysts warn could lead to inflation, AFP reported.

    "I have to admit that the rise in oil prices is having an impact on the Chinese economy," Zhu Zhixin, vice chairman of the National Development and Reform Commission, said at a business forum in Beijing last week.

    Although Zhu did not give concrete estimates, analysts say that China's 2006 growth in gross domestic product will easily drop off by one percentage point.

    They also estimate the consumer price index, its main measure of inflation, will jump two percentage points from around two percent now.

    While China is not as vulnerable as other oil-reliant Asian economies, the prospect of high prices over a sustained period is a serious concern to economic planners in Beijing, analysts said.

    Zhang Guobao, vice chairman of the National Development and Reform Commission, said on Saturday in Beijing that 94% of China' energy consumption was met with its own production in 2004, and it relied on imports for merely 6% of its energy consumption.

    China is the second largest energy producer, and also the world's second biggest oil consumer, Zhang said. It relied on imports for about 3.7 million barrels per day, or 40 percent of its oil needs.

    Demand in China is currently at 6.4 million barrels per day and though demand growth has slowed this year, consumption is expected to continue to expand, driven by strong economic development and the low domestic retail fuel prices.

    Beijing fixes oil prices by using a basket of the previous month's global trading levels in London, New York and Singapore and then allows the price to fluctuate eight percent.

    Even though the two-tiered system is meant to protect consumers the discrepancy between pricing and suppliers sparked shortages of fuel this summer in southern China, pressuring the government to liberalise prices.

       上一頁 1 2 下一頁  



    Fire kills 5 in Northeast China
    Aerobatics show in Hunan
    Final rehearsal
      Today's Top News     Top China News
     

    Australia, US, Japan praise China for Asia engagement

     

       
     

    Banker: China doing its best on flexible yuan

     

       
     

    Hopes high for oil pipeline deal

     

       
     

    Possibilities of bird flu outbreaks reduced

     

       
     

    Milosevic buried after emotional farewell

     

       
     

    China considers trade contracts in India

     

       
      EU likely to impose tax on imports of Chinese shoes
       
      Bankers confident about future growth
       
      Curtain to be raised on Year of Russia
       
      Coal output set to reach record high of 2.5b tons
       
      WTO: China should reconsider currency plan
       
      China: Military buildup 'transparent'
       
     
      Go to Another Section  
     
     
      Story Tools  
       
    Manufacturers, Exporters, Wholesalers - Global trade starts here.
    Advertisement
             
    在线综合亚洲中文精品| 91精品国产综合久久四虎久久无码一级| 精品无码人妻夜人多侵犯18| 无码精品一区二区三区在线| 色欲A∨无码蜜臀AV免费播| 天堂√中文最新版在线下载| 最近更新2019中文字幕| 在线a亚洲v天堂网2019无码| 韩国免费a级作爱片无码| 中文在线中文A| 狠狠噜天天噜日日噜无码| 亚洲精品无码mv在线观看网站| 人妻丰满AV无码久久不卡| 日韩人妻无码精品专区| 亚洲国产精品无码专区在线观看| 最近中文字幕国语免费完整| 一级片无码中文字幕乱伦| 中文字幕高清有码在线中字| 日产无码1区2区在线观看| 中文字幕精品久久| 国产在线观看无码免费视频| 欧美乱人伦人妻中文字幕| 中文字幕 亚洲 有码 在线| 日韩乱码人妻无码中文视频| YY111111少妇无码理论片| 精品深夜AV无码一区二区| 无码国产精品一区二区免费式芒果| 免费无码av片在线观看| 中文字幕无码不卡在线| 亚洲人成影院在线无码观看| 国产99久久九九精品无码| 久久伊人中文无码| 午夜无码视频一区二区三区| 99久久精品无码一区二区毛片| 国产在线精品无码二区| 精品无码人妻一区二区三区不卡 | 国产亚洲精品无码专区| 国产AV无码专区亚洲精品| A∨变态另类天堂无码专区| 69ZXX少妇内射无码| 亚洲AⅤ永久无码精品AA|