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China is one of the world's largest oil buyers. Over 60 percent of its oil comes from imports. Crude imports are dominated by State-run giants Sinopec, China National Petroleum Corporation and China National Offshore Oil Corporation.
China is the world's largest electric vehicle market, meaning more and more players could bring more innovative business models in the long term, Min said.
China has raised retail oil prices twice so far this year.
China has vowed to further promote fair market competition as part of the deepening reform and opening-up efforts to improve its socialist market economy in the 14th Five-Year Plan (2021-25) period, according to a communique of the Fifth Plenary Session of the 19th Central Committee of the Communist Party of China, which was held from Oct 26 to 29.
China has repeatedly said that Section 301 investigation is a unilateral move that violates World Trade Organization (WTO) rules.
来源：资阳报