By Lv Wei　

Date: 2002/08/13

Abstract:　

At present imports of oil and oil products into China account for one third of the total supply of oil and oil products in China. It is estimated that the import dependency ratio will exceed 50 percent in 2002. Therefore, it is all the more pressing to set up the state oil reserve system in China. The paper reviews the operating mechanism of the US strategic oil reserve system and makes a comparative study into the oil reserve systems in Japan, Germany and France.