HP Impact: China prepares for future of increased HPI product demand
With China's entry into the WTO, it is making significant policy changes to participate as a major player in the global HPI. Most notably, this nation is opening its borders for trade. ..
With China's entry into the WTO, it is making
significant policy changes to participate as a major player
in the global HPI. Most notably, this nation is opening its
borders for trade. According to market research from SINOPEC,
many paradigm shifts are required for China to become
competitive:
Reduce import tariffs. China has lowered tariffs
for six petrochemicals products from 8.5% to 5% beginning
in 2006.
Eliminate import quotas. Beginning in 2004,
import quotas for six petroleum products (crude oil,
gasoline, kerosine, diesel fuel, lubricating oil, fuel
oil and LPG) will cease. In 2002, 22 m
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