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Chinanews, Beijing, Sept 13 – China is working hard to set up a multi-level system so that state-owned companies, private companies and foreign-funded companies can all take a share in domestic oil distribution market, said a person attending the China Oil Distribution Industry Forum1 recently.
The forum was held by the China General Chamber2 of Commerce. So far, there are 2,434 companies in China that deal in the oil wholesale3 business. Of them, 663 companies are operated by private capital, accounting4 for 27.2% of the total. There are 93,879 gas stations in China, of which 5,064 are privately5 run, accounting for 48% of the total. After China fully6 opens its oil market, most private oil companies in China still can not have sufficient oil supply. Last month, the State Development and Reform Commission issued a notification urging the two state-owned oil giants to guarantee product oil supply for companies outside their systems. At present, private companies have entered every link of the product oil distribution chain and they have played an important part in the domestic oil market.
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