BEIJING, July 27 (UPI) -- Chinese oil imports were up 47.3 percent in the first half of 2006, making its way to what some experts say will be 50 percent of its consumption by 2010.
The state-run Xinhua news agency reports China's foreign oil imports rose 4.4 percent compared to the first half of 2005.
The ministry of commerce said net imports of crude reached 70.33 million tons in the first half of 2006, a 17.6-percent growth from the first half of 2005.
Refined imports grew 48.3 percent to 12 million tons.
The ministry said Chinese oil production rose 2.1 percent in the first half of 2006, to 91.66 million tons.
A report from China's Social Sciences Academic Press estimates that imports will be half of the country's consumption by 2010.
