The Impact And Countermeasure Of Asian Premium On Chinese Petrochemical Industry

As China has been sharply increasing the import of crude oil from the Mid-East, the Chinese petrochemical industry has paid high Asian premium. This thesis states, from microeconomic perspective, that Asian premium is part of OPEC's price strategy that take the third grade price discrimination during the same time period for the same quality of crude oil based on the customers from different regions. From the perspective of international trade and using a combined quantitative and qualitative methodology, it has also studied the connotation, features and causes of the Asian premium, illustrated the negative impact of Asian premium on Chinese petrochemical industry in an opening macro economy, and made suggestions that would help Chinese petrochemical industry to resolve Asian premium.