The Impacts Of Fluctuations In Crude Oil Prices On China's Economy And Countermeasures

As a special kind of merchandise,Crude oil plays a basic role in country's economic development and security.Crude oil will still be the object of rivalry before the appearance of energy which can completely take the place of it. Therefore, in recent years the prices of crude oil show changes with general merchandises in different forms——"sharp decline after sharp rise",like "peak-type" changes.At present, the old international crude oil pricing system still plays a decisive role. The United States, Britain and other oil consuming nations affect oil prices through crude oil futures market , in order to hedging and reduce risk;OPEC and other crude oil exporting countries also use crude oil futures market to safeguard their export earnings.As the rise of new developing countries, they are playing more and more important roles in the international crude oil market. In particular, China is concerned, in 2008 China's crude oil import dependence reached to 48.5 percent, closing to the international warning level of 50 percen usually considered. However, as the world's second largest oil importing country and consumer country,in the international crude oil pricing market, China has few right to speak.International crude oil market has not considered much about china ,as a big oil consumption country ,our country has suffered serious influences: Over the years, international oil prices is under the influence of manipulation, we can only as a spectator, after others set prices, we passively accept them, so the phenomenon of "buying up not buying down" is not uncommon.Under the current international and domestic crude oil pricing system, which factors impact the international oil price fluctuations, and then showed such dramatic fluctuations? And how this dramatic fluctuations transmit to domestic crude oil market, thus affect our country's economic entities? Only to distinguish the processes,we can propose solutions to the economic impact of oil price fluctuations .At the basis of the above analysis, this paper presents our country to set up crude oil futures market , promote our country's crude oil pricing market-oriented reform proposals, which is the most important step to fight pricing rights for our country in the international crude oil market; Setting up our country's strategic oil reserve system Scientifically,currently our country is paying close attention to the implementation; Insisting on "going out", digging holes deeply, reserving oil extensively , and properly dealing with multi-relations and interests during the process; Vigorously developing renewable energy, and effectively promoting energy-saving projects etc,these measures are being thouht on the agenda.On the long run, they will ease the dependence on crude oil and improve our country's energy security.