(Yicai Global) Nov. 23 -- China is promoting a structural reform of the crude oil import business and is making import qualifications available to private enterprises.
Some 17 local refineries have already obtained non-state-owned crude oil trade import qualifications, Wang Shouwen, vice minister of commerce, said today at the opening ceremony of the 6th China International Oil and Gas Trade Congress in Shanghai.
China has formed an orderly diversified and vigorous operation system for crude oil imports, he said.
The conference, whose theme is international trade cooperation of oil and gas under the Belt and Road Initiative, was lengthened to two days for the first time. About 300 oil, trade and shipping company delegates from 16 countries and regions as well as representatives from finance, information and academic institutions attended.
China will hold the first China International Import Expo (CIIE) next year to build a platform to foster international cooperation, Wang said.