China’s crude reserve system consists of the government’s 

strategic reserves, enterprises’ mandated commercial reserves, and 

enterprises’ inventories for production and operating activities.

The reserve system is managed through a hierarchical system 

composed of decision-making, implementation, and execution. 

China has created a three-phase plan for building up the strategic 

reserves, which reports say will reach 70 million cubic meters over 

15 years at a projected investment of more than RMB 100 billion. 

Currently, China’s dependence on foreign oil has exceeded 70%. In 

the long run, the demand for oil will fall as China works toward the 

Dual Carbon Goals, but oil will remain a key energy and chemical 

raw material, thus the SPR stockpile will still be critical to China’s 

energy and economic security

声明：本资料仅用于投资者教育，不构成任何投资建议。我们力求本资料信息准确可靠，但对这些信息的准确性、完整性或及时性不作保证，亦不对因使用该等信息而引发的损失承担任何责任，投资者不应以该等信息取代其独立判断或仅根据该等信息做出决策。基金有风险，投资须谨慎。