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INFLUENCE OF CHANGE IN PETROLEUM PRICE TO CHINA'S INDUSTRIAL ECONOMY

Wang Wei

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Abstract

China's industrialization depends heavily upon petroleum.China,as a big country for making industry,has an inflexible demand for petroleum and petroleum'original products,but China's exported products are common goods with low added-values,a little rising in price.High price of petroleum is enclosed internally,leading to an accelerating cost in petroleum-using sectors,blocking profits rise.This paper analyzes the trend of petroleum price fluctuation and China's petroleum expenses,and discusses the far-reaching influence of change in petroleum price to China's industrial economy.

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What this paper is about

China's industrialization depends heavily upon petroleum.China,as a big country for making industry,has an inflexible demand for petroleum and petroleum'original products,but China's exported products are common goods with low added-values,a little rising in price.High price of petroleum is enclosed internally,leading to an accelerating cost in petroleum-using sectors,blocking profits rise.This paper analyzes the trend of petroleum price fluctuation and China's petroleum expenses,and discusses the far-reaching influence of change in petroleum price to China's industrial economy.

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Available abstract

China's industrialization depends heavily upon petroleum.China,as a big country for making industry,has an inflexible demand for petroleum and petroleum'original products,but China's exported products are common goods with low added-values,a little rising in price.High price of petroleum is enclosed internally,leading to an accelerating cost in petroleum-using sectors,blocking profits rise.This paper analyzes the trend of petroleum price fluctuation and China's petroleum expenses,and discusses the far-reaching influence of change in petroleum price to China's industrial economy.

Key concepts: Petroleum, China, Industrialisation, Economics, Petroleum product, Petroleum industry, Oil price, Economy

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