7 Rules For Open Oil Market in China
China is handing in its homework before the December 11th WTO deadline.
Some rules have been established for wholesaling and retailing oil products in China.
1. Companies must have a refining capacity of more than one million tons.
2. Companies must be holding oil product import licenses for one year.
3. Companies must be holding supply contracts for at least one year.
4. Companies must have storage capacity of at least 10,000 cubic meters.
5. Companies must have access to pipelines, docks, railways or other transport.
6. Companies must have registered capital of no less than 30 million yuan ($3.8 million).
7. Foreign companies with more than 30 gas stations in China cannot hold a controlling stake.
China is making more cars. China is building more roads. People are buying….and now they need to fill 'er up more often.
Next on the list…rules for rest stops and convenient stores.
What do you think?
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