When 50% of China's import is in question, they will have to re-allocated their oil supply among the various applications.
Chinese Economics Thread
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When 50% of China's import is in question, they will have to re-allocated their oil supply among the various applications.
It's about 50% of oil imports not 50% of consumption which is significant because China produces a good amount of oil itself, it's just far less than it consumes. At any rate there should be significant room to increase purchases from Brazil, Angola, Russia, etc. plus a lot of stockpiling was done last year.
and Canada
lcloo
Major
As Oil Surges To $80, China’s Stockpiles Become Strategic Leverage
By - Mar 03, 2026, 5:00 PM CST- China built a massive crude buffer in 2025, stockpiling an estimated 1 million bpd while prices hovered near $60, taking advantage of discounted Russian, Iranian, and Venezuelan barrels.
- That stockpile is now cushioning the Iran war shock, giving Beijing flexibility as Middle East flows are disrupted and Brent pushes toward $80–$100.
- Floating sanctioned crude near Asia adds further leverage, with roughly 166 million barrels of Iranian oil already positioned in eastern waters — close to Chinese buyers and outside Hormuz risk.
China has been amassing crude in strategic and commercial reserves for nearly a year—propping up oil prices throughout 2025 even though its demand growth has weakened.
As we rolled into the very tumultuous 2026 with two major geopolitical events upending oil markets in as many months – the U.S. blitz to capture Venezuela’s Nicolas Maduro and the U.S.-Israel strikes on Iran – China’s oil hoarding will likely pay off in these early days of the unpredictable and already highly disruptive war in the Middle East.
The Chinese strategy to build up reserves during a nearly year-long buying spree at relatively low prices is now paying off, as the world’s top crude importer has some buffer to power through the early days of the severely disrupted oil flows out of the Middle East, analysts say.
Full read at this link:-
Yicai reporting on China's encouragement of Yuan adoption internationally:
Note when it says "opening up" the article likely means 开放 (liberalise).
Here are just the highlights:
(Yicai) March 5 -- China will expand the cross-border use of the yuan and guide enterprises to optimize their global market layout as part of efforts to stabilize foreign trade and investment amid rising geopolitical tensions and trade protectionism, according to this year’s government work report.
The report also places greater emphasis on expanding high-level opening-up, particularly in the service sector, and introduces new policy directions, including promoting the integration of trade and investment and expanding and upgrading the “cross-border e-commerce plus overseas warehouse” model.
China will actively expand autonomous opening-up this year by widening market access, with a focus on services, the report said. The country will expand pilot opening programs in areas such as value-added telecommunications services, biotechnology, and wholly foreign-owned hospitals, advance opening in the digital sector in an orderly manner, and shorten the negative list for cross-border services trade.
In the next stage of opening-up, China will prioritize opening the service sector, Bai Ming, a member of the academic committee of the Chinese Academy of International Trade and Economic Cooperation under the commerce ministry, told Yicai. During decades of reform and opening-up, sectors such as manufacturing have already achieved a high level of openness, while services still have significant growth potential, he said.
Note when it says "opening up" the article likely means 开放 (liberalise).
China to Promote Yuan Cross-Border Use, Optimize Firms’ Global Market Layout
Here are just the highlights:
(Yicai) March 5 -- China will expand the cross-border use of the yuan and guide enterprises to optimize their global market layout as part of efforts to stabilize foreign trade and investment amid rising geopolitical tensions and trade protectionism, according to this year’s government work report.
The report also places greater emphasis on expanding high-level opening-up, particularly in the service sector, and introduces new policy directions, including promoting the integration of trade and investment and expanding and upgrading the “cross-border e-commerce plus overseas warehouse” model.
China will actively expand autonomous opening-up this year by widening market access, with a focus on services, the report said. The country will expand pilot opening programs in areas such as value-added telecommunications services, biotechnology, and wholly foreign-owned hospitals, advance opening in the digital sector in an orderly manner, and shorten the negative list for cross-border services trade.
In the next stage of opening-up, China will prioritize opening the service sector, Bai Ming, a member of the academic committee of the Chinese Academy of International Trade and Economic Cooperation under the commerce ministry, told Yicai. During decades of reform and opening-up, sectors such as manufacturing have already achieved a high level of openness, while services still have significant growth potential, he said.
(National Two Sessions) Exclusive Interview with John Lee: Aligning with National Strategy, Hong Kong to Formulate Its First Five-Year Plan
"Without technology, there is no future." He particularly emphasized the role of technological innovation as an engine, citing Hong Kong's strengths: five universities ranked among the world's top 100, an internationally aligned common law system, and free capital flows. He believes Hong Kong's uniqueness lies in its ability to "bring together the strengths of the international and the national in one place."
To translate opportunities into actionable pathways, John Lee revealed that all 15 policy bureaux of the SAR government have established preparatory teams to begin researching and drafting Hong Kong's first five-year plan. "As soon as the details of the 15th Five-Year Plan are released, we will immediately initiate research and drafting," he stated. This plan will undergo thorough public consultation, targeting three core objectives: economic development, improving people's livelihoods, and enhancing competitiveness.
John Lee believes the significance of the Five-Year Plan lies in showing Hong Kong citizens how the city will develop over the next five years. He hopes that each subsequent five-year period will feature clear milestones.
I don’t understand why the Chinese government doesn’t bring out a law to sanction and give heavy fines to companies who keep ignoring government call for a stop of such practices and still engaging in involution and destructive price wars below cost of production . Almost all players in this sector for example seem to have suffered heavy losses due to this stupid price wars where everybody losses .
If they are so competitive they should look to compete abroad where there are many opportunities . Yet they rather engage in self destictive