202 Million Tons – China Issued 2020 Non-State Crude Import Quotas
According to the Administrative Regulations of the People's Republic of China on the Import and Export of Goods and the relevant commitments of China's accession to the WTO, the Ministry of Commerce of the People's Republic of China (the "MOFCOM") has formulated Total Allowable Import Volume and Application Conditions and Procedures of Non-state Trading of Crude Oil in 2020, which are hereby promulgated.
Allowable import volume of non-state trading of crude oil in 2020 is 202 million tons.
(I) the enterprises who have crude oil import performance over the past two years (2018 to October 2019) or have the qualification for imports of crude oil approved by the competent industrial departments of the State;
(II) the enterprises that have the right to use crude oil terminals with a capacity of not less than 50 thousand tons (or railway ports of transshipment capacity of 2 million tons per year), and the right to use crude oil storage tanks of not less than 200 thousand cubic meters;
(III) foreign trade dealers whose bank credit is no less than USD 20 million (or RMB 120 million);
(IV) enterprises that have professionals being engaged in international oil trade (at least two);
(V) enterprise that operate legally and comply with laws and regulations governing production, environmental protection, taxation, customs and foreign exchange management.
The following materials are required for application:
(I) application letter. includes the basic situation of the company, description for eligibility for application, application reasons, specific programs with respect to crude oil procurement, production, use or sale, introduction to professionals being engaged in international oil trade and others;
(II) copy of the Copy of Business License of Enterprise Legal Person in its validity period; copy of the Registration Certificate of the Consignees and Consignors of Import and Export Goods for Customs Declaration and the copy of Organization Code Certificate;
(III) supporting documents with respect to credit lines issued by banks. The originals of the official documents issued by the head offices or branches directly under the bank shall be provided; for the subsidiaries of the central enterprises, they may provide the collective credit certificate of the head office;
(IV) provide originals of the agreement on the use of crude oil terminals (or railway ports), the tank and other facilities, and copies of the supporting documents proving the handling capacity and storage capacity of the terminals (railway ports) issued by the competent investment departments above the prefecture level (or environmental protection, fire protection and other departments);
(V) imported crude oil processing qualification documents approved by the competent industrial departments of the State.
Processing enterprises having import qualification for non-state trading of crude oil granted by the Ministry of Commerce in 2019 are not required to provide materials in Items (II), (III), (IV), and (V) and all other enterprises applying for the allowable amount need to provide the above materials as required. All the applicants must be responsible for the authenticity of the above materials. When submitting copies, the originals should be provided for verification; moreover, the certificate bearing the signature of the legal representative proving the authenticity of the application materials is also required.
(I) Release in batches. The first batch of allowable import volume in 2020 will be issued to all the qualified enterprises, and other batches will be issued at appropriate time;
(II) Additional adjustment. It is required to timely add and adjust the allowable volume according to the actual import situation, business demand and the application made by new eligible processing enterprises;
(III) Strict assessment. No allowable volume will be granted to enterprises without imports in the last two years; the allowable volume allocated to a qualified enterprise will be determined based on its the actual crude oil import volume newly added legal capacity in 2019; according to the Administrative Regulations of the People's Republic of China on the Import and Export of Goods, for those enterprises that cannot complete the allowable import volume hold, they shall return the allowable volume that cannot be completed in the current year to the Ministry of Commerce via local commerce department or the group company of central enterprises prior to September 1 in the current year;
Declaration and Audit Procedures
Local enterprises must apply to the local commerce authorities at the provincial level, and the subsidiaries of the central enterprises must apply uniformly through the group headquarters.
The provincial commerce department and the central enterprises shall submit the summarized list of eligible enterprises and application materials thereof by mail, courier, personal delivery or other manners to the administrative service hall of the Ministry of Commerce prior to November 20, 2019; no application will be accepted thereafter.
After examining the application materials of the enterprises concerned, the Ministry of Commerce will distribute allowable import volume to eligible enterprises prior to December 31, 2019, and issue the distribution results to the relevant provincial commerce departments and the central enterprises.
Enterprises with import qualification for non-state trading of crude oil must consciously abide by the national laws and regulations and maintain a normal import order. Those violate the relevant laws and regulations will be punished in accordance with the Administrative Regulations of the People's Republic of China on the Import and Export of Goods and the Administrative Measures on Automatic Import Licenses for Goods once verified.
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