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By 2015, China Will Import More Than 60 Percent of Its Oil

Beijing Times reported that on November 27, 2011, the China Energy Research Society published the “2011 China Energy Report.” The report indicated that due to a predicted economic growth rate of 9 percent per annum over the next five years, even though the rate of growth of energy consumption will decrease in the next five years, and even though China has a stable domestic oil supply, China’s oil imports will continue to increase. According to the 2010 China Energy Report, China imported 54.8 percent of its oil in 2010. The 2011 report expects the figure will increase to 60% by 2015.  The rate of growth in oil consumption over the next five years is expected to be 4 percent, down from 5.15 percent from 1978 to 2010.

Source: People’s Daily, November 28, 2011