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China's import exerts limited impact on global oil price
Updated: 2005-03-06 14:23

China, both an energy consumer and producer, should not be responsible for the world's rising oil prices, Foreign Minister Li Zhaoxing said Sunday at a press conference at the ongoing annual session of the National People's Congress.

"Although China's energy import has increased a little bit over the past two years, its import only accounts for approximately 6 percent of the world's total traded oil," he said.

It's true that China's energy demand has increased to certain extent as the country's economy has been growing rapidly in recent years, he said, but the demand is mainly to be met domestically, he said.

Besides, he added, there is a big potential of saving energy and improving the use of energy efficiency in China's domestic energy supply.

Therefore, the media criticism saying that China is a major impact on the world's oil price is "groundless", he said.

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