China lodges WTO complaint over US tariffs, turns to domestic shale gas
CHINA has lodged a case against the United States with the World Trade Organisation (WTO) over US import duties, said the Ministry of Commerce reported CNBC
CHINA has lodged a case against the United States with the World Trade Organisation (WTO) over US import duties, said the Ministry of Commerce reported CNBC.
The US began imposing 15 per cent tariffs on a variety of Chinese goods on Sunday - including footwear, smart watches and flat-panel
The latest tariffs violated the consensus reached by leaders of China and the US in a meeting in Osaka, the commerce ministry said in the statement.
A report, released Saturday by the National Energy Administration (NEA) and a State Council, calls for boosting natural gas production in key resource basins in the southwestern province of Sichuan, the Erdos basin in the north and offshore China.
Beijing is funding new efforts to boost domestic production, particularly from unconventional sources like shale gas, as weaning China off its import reliance takes on new importance.
According to the report, China's gas consumption will rise 10 per cent this year to 310 billion cubic metres, and to continue growing until 2050. Though slowing from last year's 17.5 per cent, 2019's growth still represents an annual addition of 28 bcm, faster than the annual average growth of 19 bcm during 2007-2018, the report said.