China Economic Quarterly

China Economic Quarterly

June 2003

China’s Oil Quest

China is fast becoming a key player in the world’s oil economy. A decade after becoming a net oil importer, it is now the world’s third biggest oil consumer, and accounts for about three-quarters of the annual growth in world oil consumption. Finding new and secure sources of supply to slake its mounting thirst for oil is a major priority for Chinese economic planners. Acting on this imperative, and also in their own commercial self-interest, China’s three state-owned oil companies last year began a major offensive into international oil exploration.

Also in this issue:

  • 2003 Barton & Rupert awards: more dumb lines

  • Financial sector reform: in the slow lane

  • Real estate: Beijing bubbles on

  • SARS: the return of political risk

  • The future of Hong Kong

  • Monkey King: Wang Qishan

Tomas Wiik2002-05