The General Administration of Customs stated in ChinaOn Monday, the country’s total exports of refined fuels, including gasoline, diesel oil, jet fuel and ship fuel, fell in October to 3.96 million tons, the lowest level since April 2023.
This represents a decrease of 21.4 percent on an annual basis, and a sharp decrease on a monthly basis compared to 5.19 million tons in September.
The Chinese Ministry of Finance announced on Friday that it will reduce the tax discount rate on exports of some refined petroleum products from 13 percent to nine percent, effective December 1, in a move expected to deal another blow to refining margins.
Data issued on Monday also showed that China imported 6.55 million tons of Liquefied natural gas in October, an increase of 28 percent over the previous year.
From January to October this year, imports rose Natural gas Liquefied 13.2 percent to 63.55 million tons.
