STORY: CHINA’S IMPORTED OIL DEPENDENCYDATELINE: Aug. 15, 2011LENGTH: 0:02:05LOCATION: Beijing PKGINTRO:Chinese government statistics show over half the country’s oil demand has to be met with imports, registering a new high of 55.2 percent.Experts warn China’s rising dependence on imported oil is threatening the nation’s energy security.Economy Report has the details.PKG:According to the the Ministry of Industry and Information Technology (MIIT), China’s dependence on imported oil rose to 55.2 percent in the first five months of this year, up from 55 percent in 2010 and 33 percent in 2009. The figure means China’s dependency on imported oil has overtaken that of the United States, which dropped to 53.5 percent.Tong Xiaoguang, a researcher from Chinese Academy of Engineering(CAE), notes the rapid growth in imported oil dependency exposes China to greater global oil market risk. He adds that Chinese crude oil demand is rising due to increased urbanization and industrialization.The MII Powered by www.newslook.com Producer : Xinhua News Agency
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