CHINA: Imports now meet more than 55% of nation's oil demand

摘要

Imports met more than 55% of China's total oil demand in the first half of this year, according to the China Petroleum and Chemical Industry Association (CPCIA). The country's oil import dependence has grown in lockstep with its fast rising demand brought on by strong economic growth. The association expects China's oil demand to grow by 6%-7% this year. In July, its oil demand growth slowed to 2.2% compared with the double-digit rates in the first half.