China Announces Import Quota for Oil, Tire
BEIJING, May 11, 2002 (Xinhua via COMTEX) -- China will import 22 million tons of finished oil products and 1.07 million pieces of tires in 2002, according to an official press release issued Saturday.
The import quotas, in line with China's commitments on accessing to the World Trade Organization (WTO), were announced jointly by the State Economic and Trade Commission (SETC) and Ministry of Foreign Trade and Economic Cooperation (MOFTEC).
The import quota for finished oil products is shared between state-run businesses and none-state-run businesses, with the former acquiring 17.40 million tons and the latter 4.6 million tons respectively.