Li Qiang Inspects China’s Strategic Oil Reserves

Chinese Premier Li Qiang has called for faster expansion and improved management of China’s strategic reserves during visits to major oil and commodity storage facilities in eastern China.

Li visited the Zhoushan National Oil Reserve Base in Zhejiang province, one of China’s key strategic petroleum reserve sites, along with a commercial oil storage project and a bulk agricultural products transportation and storage base.

During the visit, Li stressed the need to improve the structure of China’s reserve system and accelerate the construction of different types of reserve facilities to expand storage capacity.

He said properly managing reserves of major commodities and materials was important for maintaining long-term economic stability.

China Expanding Oil Stockpiles

China has been rapidly expanding its oil reserve infrastructure in recent years as part of a broader push to strengthen energy security and reduce vulnerability to global supply disruptions.

The Zhoushan reserve base is among the country’s major strategic energy storage hubs and plays a key role in Beijing’s long-term stockpiling efforts.

(with inputs from Reuters)