China Mutes Impact Of 100 Oil

摘要

While other Asian countries that subsidize oil products struggle to keep up with soaring costs,China has set up a structure to take 100 oil in stride - making upstream producers foot the bill for subsidies that help to mute the impact of inevitable bikes in state-controlled fuel prices.The government's plans to progressively remove energy price controls have in the last two years been sidelined for fear that key sectors of the economy would be unable to cope with runaway crude prices.Instead,it has decreed sporadic retail price increases,with the latest 10% rise - the first in 17 months - coming into effect Nov.1.