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China bans import-export of diesel oil, fuel

China bans import-export of diesel oil, fuel
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First Published: Fri, Apr 06 2007. 07 01 PM IST
Updated: Fri, Apr 06 2007. 07 01 PM IST
PTI
Beijing: China has banned processing trade companies to export and import heavy diesel oil and fuel for the first time in response to international concern on the country’s hefty energy consumption, the state media reported on 6 April.
Under the 2007 Prohibited List for Processing Trade which take effect on 26 April, processing trade companies will not be allowed to deal with 990 products with 186, mostly unrenewable resources, newly added on, Xinhua news agency quoted officials from the Ministry of Commerce as saying.
The prohibition was jointly released by the Commerce Ministry, the General Administration of Customs and the State Environmental Protection Administration.
As the world’s third largest oil importer after the US and Japan, China imported a record 36.38 million tonnes of refined oil last year, 15.7% up on 2005, to fuel an annual economic growth of 10.7%.
China, popularly dubbed as the ‘world’s factory’, also failed to achieve its ambitious GDP energy reduction target set for 2006.
China’s 11th Five-year Plan (2006-2010) set a 20% reduction target in per unit GDP energy consumption for the 2006-2010 period, equivalent to 4% a year.
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First Published: Fri, Apr 06 2007. 07 01 PM IST
More Topics: International News | Asia |