The Ministry of Commerce of the People’s Republic of China (MOFCOM) on 23 December issued the 2022 Refined Oil (Fuel oil) Non-state trade import allowance application conditions, distribution principles and related procedures document.
The import of fuel oil is subject to state-owned trade management, states MOFCOM.
However, certain provisions between China and the World Trade Organization allow for a fixed amount of trade imports by non-state-owned entities.
As such, these non-state-owned enterprises are allowed to operate within the scope of the annual import allowance.
The allowable amount of fuel oil imports for non-state trade in 2022 is 16.2 million tons.
Non-state-owned enterprises interested in applying for a permit to import an allowable quantity of fuel oil for non-state trade should meet the following requirements:
- Obtain import and export business qualifications with independent legal representation;
- Have ownership or access to unloading facilities such as fuel oil import terminals or special railway lines (only applicable for border land transportation enterprises) with no less than 10,000 tons;
- Ownership or right to use fuel oil storage tanks or oil depots with a storage capacity of not less than 50,000 cubic meters;
- Domestic bank credit lines of not less than USD 20 million or RMB 120 million;
- No violation of national laws and regulations in the past two years;
- Other factors that need to be considered.
Source: https://www.manifoldtimes.com/Tags: China, Fuelimports, MOFCOM, WTO