Home Business China International Culture��Edu Sci��Tech Sports Life Travel P hotos ��Search China Observer �� New Occupations Expand in China �� Should foreigners be allowed to join China's civil service? �� Environmental protection at a crucial moment Photos �� Valentine's Day falls today �� Global notebook computer sales exceeded 48 million in 2004 �� Color light and ice light show in Daxing'an Range ��Home>>Business China's crude oil and refined oil exports decreased www.chinanews.cn 2005-02-16 13:00:01 Chinanews, Feb. 15 - With rapid economic growth, energy has become one of the bottlenecks that stand in the way of China's sustainable economic development. Since Jan. 1, 2004 when China reduced or even abolished export tax rebates for crude oil and refined oil exports in order to appropriately limit exports of resources in short supply, China's crude oil and refined oil export volume has dropped sharply. Statistics show that China's crude oil export volume and value dropped 32.5% and 20.3% respectively to 5.49 million tons and 1.32 billion USD; refined oil exports decreased 17.1% to 11.46 million tons, and its value increased 6.3% to 3.96 billion USD. Gas export declined 28.3% to 5.41 million tons. The Export volume of kerosene and other fuel oils increased 9.5% and 140% respectively to 2.05 million tons and 1.82 million tons. Before the 1990s, crude oil exports had been a key mechanism for earning foreign exchange. With increasing oil demand for economic development, China has become a net crude oil importer since the mid-1990s, and crude oil export has gradually declined. Currently, China is exporting a small quantity of crude oil mainly to abide by its long-term trade agreements with other countries, and refined oil export is mainly for the oil processing trade. E-mail: zhangqinghua@chinanews.com.cn Tel: 8610-88387443 Fax: 8610-68327649 Copyright� 2004 Chinanews.com. All rights reserved. Reproduction in whole or in part without permission is prohibited. Disclaimer: viewpoints in the website do not represent China News Service Learn Chinese, Chinese Online Class