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China's Refined Oil Pricing Mechanism Reform Study

Posted on:2011-03-10Degree:MasterType:Thesis
Country:ChinaCandidate:M GongFull Text:PDF
GTID:2199360302992041Subject:National Economics
Abstract/Summary:
Oil is a non-renewable, scarce resource and a very important strategic energy which has a close relationship with the national economy and national security. As a key link of the oil market, the pricing mechanism of the refined oil plays a vital role in regulating the oil resource. In recent years, the international oil price is undergoing ups and downs, in addition that China is a big oil-consumer country, the fluctuation of the international oil price increasingly influences our national economy. Our current pricing mechanism of the refined oil was introduced against the backdrop of the relatively stable international oil price, and this pricing mechanism had done a lot of contribution to the quick industrialization of the oil market and the stable development of the national economy. But with the changes of the oil market at home and abroad and the frequent fluctuations of the oil price, the disadvantages of the pricing mechanism of the refined oil becomes increasingly evident, all aspects of domestic voice more and more about the refined oil pricing mechanism reform. In spite of the frequent adjustment of the refined oil price, it can't achieve the desired effect, the price adjustment of the domestic refined oil is in a dilemma. So, it is necessary for us to reform our refined oil pricing mechanism and perfect the corresponding supporting measures, so as to confront with the fluctuations of the international oil price, protect our country's oil security and correctly cope with all levels in the oil market.On the basis of reviewing the history of the refined oil pricing mechanism, the thesis analyses deeply about the defects of the pricing mechanism and discuss the way how to reform the current mechanism. Firstly, by means of the empirical study and mathematical analysis, the thesis does a research about the price conduction mechanism, and concludes that under the regulation of the government, there isn't a one to one relationship between the adjustment of the refined oil price and the inflation from 2007 to 2009, which proves the necessity of the government regulation. Therefore, we should be conscious about the rhythm of the reform, stabilize the overall price level. Secondly, the thesis discusses about the structure of the oil market, indicates the shortcomings of the administrative monopoly, and points out that we should break up the monopoly, introduce the competition, re-architecture the oil market system, strengthen the competitiveness of our oil enterprises, eventually realize the marketization of the refined oil. Thirdly, the thesis discusses the defects of the government regulation in the refined oil price control, points out that instead of the missing government regulation department, unscientific pricing method and the invalid coordination of interests, we should establish the uniform regulation department, form the scientific pricing method and a good coordination of all the interests. Fourthly, through the comparative analysis of the international mechanism, the thesis provides some experience for reference.
Keywords/Search Tags:price of the refined oil, pricing mechanism, price regulation
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