China More Dependent on Crude Oil Import than US

Although China＇s petroleum and chemical industry maintained sound growth in the first half of 201l, with output value up 34.4 percent to reach a record high of 5.32 trillion yuan （US$825.84 billion）, China＇s foreign crude oil dependency ratio recorded 55.2 percent, the first time exceeding that of the United States, according to a report released by the Ministry of Industry and Information Technology （MIIT） in early August this year.