China to stockpile 73m barrels of imported oil
CHINA will pump about 10 million tons or 73 million barrels of imported oil into its storage facilities in 2011, according to research by top Chinese oil and gas producer China National Petroleum Corp. (CNPC).
The Research Institute of Economics and Technology under CNPC did not explain whether the stockpiling is for strategic, commercial purposes or both. China had 178 million barrels of State strategic oil reserve capacity and 168 million barrels of commercial oil storage at the end of 2010, according to a report by the research unit. China would import 264 million tons or 5.27 million bpd of crude oil in 2011, the report said.
Banking assets rose 19.7% in 2010
THE total assets in China s banking sector reached 94.3 trillion yuan (US$14.3 trillion) at the end of 2010, up 19.7 percent from a year earlier, the country s banking regulator said Friday.
The China Banking Regulatory Commission also said the total liabilities of banks rose 19 percent year on year to 88.4 trillion yuan at the end of last year, according to a statement on its Web site. It added that those figures exclude banks overseas assets and liabilities.
China aiming to double natural gas use
CHINA had set a preliminary target of more than doubling the consumption of natural gas in the country to 260 billion cubic meters by 2015, Shanghai Securities News reported Friday.
The country planned to produce 170 billion cubic meters of the fuel from domestic fields and purchase an additional 90 billion cubic meters from overseas by 2015, the newspaper reported, quoting unidentified people with knowledge of the plans. The government would announce the target soon, it said, quoting persons close to the National Development and Reform Commission, China s economic planning body.
Huizhou has record monthly foreign trade
SHENZHEN neighbor Huizhou reported US$3.28 billion in imports and exports in December last year, a record high for a single month, according to Shenzhen Customs.
The city s total imports and exports last year exceeded US$30 billion, a year-on-year increase of more than 17 percent. The city s trade surplus was more than US$6.23 billion last year.
