China Warehouse- More Than Crockery Message Board

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Strategies & Market Trends : China Warehouse- More Than Crockery

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To: RealMuLan who wrote (1415)	11/13/2003 11:49:38 PM
From: RealMuLan	Read Replies (1) of 6370

China to announce 2004 fuel oil import policy mid-Dec ( 2003-11-13 14:31) (Agencies) The Ministry Of Commerce will announce China's new fuel oil import policy for 2004 in mid-December, in part to better meet a requirement by the World Trade Organization to open markets to more participants, a ministry official said Thursday. While details of the new policy were not immediately available, the official confirmed that fuel oil importing companies will need to register with the ministry. He said both state-owned and privately-owned companies can register with the ministry, but approval will be based on the registering company's business track record over the last three years. The government isn't likely to abolish the criteria for allowing trading houses to import fuel oil next year, said a China-based oil trader, who is familiar with the new policy. Such criteria includes ownership of a port with a handling capacity of 10,000 metric tons and oil product storage of no less than 50,000 tons. www1.chinadaily.com.cn

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