China's Regime on Import of Crude Oil and New Developments

摘要

According to the commitments made to WTO, China has allowed non-state-run trade enterprises to import crude oil since 2002. China has also been issuing an annual allowance and quota to allow non-state-run trade enterprises to import crude oil. However, as non-state-run trade enterprises did not enjoy the right to use the imported crude oil, the trading of crude oil by non-state-run trade enterprises was of little significance to crude oil processing enterprises.