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China has started constructing an oil storage system in order to maintain the nation's oil supplies.
The first stage of construction has started. Experts are currently drafting relevant regulations and management provisions for oil security.
The site maintains short-term oil supplies guaranteeing oil in case of an emergency, and stabilizing oil prices in China.
China is the second largest oil consumer in the world and demand is increasing as the country develops rapidly.
Last year, China's oil consumption reached 250 million tons, 90 million tons were imported.
China's current crude oil storage will only last for 21.6 days.
(CRI September 27, 2004)
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