China's overall crude oil consumption is about 8 or 9 of world consumption and per capita consumption is a little less. So we are affected (by high prices) but the degree that we are affected is limited.
More Quotes from Zheng Jingping:
China imports about 40 of its oil so of course we are affected, especially the industries that are high consumers of oil or that process oil products.Zheng Jingping
Simply resorting to currency appreciation cannot solve the problem. This has been illustrated by Japan's case.
Zheng Jingping
Prominent problems include too quick growth in fixed-asset investments and bank loans, which the country will adopt measures to tackle to ensure a steady and relatively fast economic expansion.
Zheng Jingping
We should pay attention to control of bank credit offerings and strengthen guidance for commercial banks.
Zheng Jingping
The stable price drop combined with the gradual decline in housing investments, is what the government wants to result from its macro-control,
Zheng Jingping
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