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MNI BRIEF: Reduce Energy Use Over Consumption - Ex Minister

MNI (Beijing)

China must ensure the reduction of energy use among petrochemical and non-ferrous industries takes precedence over lowering total consumption, according to Miao Wei, former head at the Ministry of Industry and Information Technology (MIIT).

Speaking at the Sina 2024 Economic and Financial Annual Conference, Miao saind commentators have often incorrectly labelled these sectors as sunset industries, but their upgrade will benefit the wider manufacturing sector.

China’s demand for crude oil imports will increase marginally in 2024 from this year’s 11 million bpd as economic growth firms and the government adds infrastructure stimulus, but this poses little significant upside risk to world oil prices, a leading China energy expert recently told MNI. (See MNI INTERVIEW: China 2024 Crude Oil Imports To Grow Marginally)

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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