Home / Business / News Tools: Save | Print | E-mail | Most Read | Comment
China imports less LPG in first half year
Adjust font size:

China's liquefied petroleum gas (LPG) import declined by a double-digit rate in the first six months of this year, as importers' enthusiasm was dampened by price gap between domestic and overseas markets, the General Administration of Customs said on Sunday.

From January to June, China imported 2.8 million tons of LPG and other hydrocarbon gases, a decline of 13.4 percent from the same period of last year.

But owing to oil price hikes on international markets, the arrivals were valued 5.1 percent higher at 1.48 billion U.S. dollars, the administration added.

LPG was priced at 7,600 yuan per ton abroad on average, 800 yuan higher than the domestic price.

Given the government efforts to cap LPG price at home to safeguard interests of consumers, the price gap would continue in a certain period of time to come, market observers said.

Of the total imports in the first half year, 1.288 million tons, or 46 percent, came from Australia, and 781,000 tons, or 27.8 percent, from the United Arab Emirates, Kuwait and Saudi Arabia.

The southern province of Guangdong was the leading importer, claiming a 80 percent share of the total LPG arrivals, according to the administration.

(Xinhua News Agency August 24, 2008)

Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
- LPG suppliers ordered to refund customers
- Shanghai lifts LPG price as world fuel crisis bites
- Sinopec to raise LPG prices
- LPG shortfall to hit 7.3 million tonnes in 2010
Most Viewed >>
- CREA denies housing boost report
- Auto China 2008 staged in Beijing
- China's ICBC world's most profitable bank
- Sinopec 1H net profit drops 73.4%
- China prefers a two-way fluctuation in yuan appreciation
- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?