Dong Xiucheng: minimal impact on inflation adjusted oil prices.

<p STYLE="MArGin: 0cm 0cm 0pt; LAYoUT-GriD-MoDe: char; Line-HeiGHT: 150%; TexT-ALiGn: center; mso-layout-grid-align: none" ALIGN="center"> <b .STYLE = "mso-bidi-font-weight: normal"> </ P> <p STYLE = "MArGin: 0cm 0cm 0pt; LAYoUT-GriD-MoDe: char; Line-HeiGHT: 150%; TexT-ALiGn: center; .mso-layout-grid-align: none "ALIGN =" center "> <b STYLE="mso-bidi-font-weight: normal"> Dong Xiucheng: minimal impact on inflation adjusted price of oil </ P> <p STYLE = ."MArGin: 0cm 0cm 0pt; LAYoUT-GriD-MoDe: char; Line-HeiGHT: 150%; TexT-ALiGn: center; mso-layout-grid-align: none" ALIGN = "center"> 2010 年 10 月 25 日./ and telecommunications / Zhao Li </ P> <p STYLE="MArGin: 0cm 0cm 0pt; LAYoUT-GriD-MoDe: char; Line-HeiGHT: 150%; mso-layout-grid-align: none"> <wbr> .</ P> <p STYLE="MArGin: 0cm 0cm 0pt; LAYoUT-GriD-MoDe: char; Line-HeiGHT: 150%; mso-layout-grid-align: none"> National Development and Reform Commission and the inquiry message will be .announced the evening of 25 "on the improvement of the domestic refined oil prices," which will be the domestic refined oil prices rise at 0:00 on the 26th, China Petroleum (601857, stock it), Associate Dean of Business Administration and Information Network Interview with Dong Xiucheng accepted .that this oil price adjustments have minimal impact on inflation, because a small adjustment in the CPI, and oil statistics measure the weight of indicators is very small. .</ P> <p STYLE="MArGin: 0cm 0cm 0pt; LAYoUT-GriD-MoDe: char; Line-HeiGHT: 150%; mso-layout-grid-align: none"> It is reported that oil production for military enterprises .and Xinjiang Production and Construction Corps, the State reserves with gasoline and diesel (standard products, the same below) supply increased by 230 yuan per ton and 220 yuan, adjusted gasoline and diesel supply prices were 7,410 yuan and 6,680 yuan per ton. .Adjusted price since at 0:00 on October 26, 2010 implementation date. .</ P> <p STYLE="MArGin: 0cm 0cm 0pt; LAYoUT-GriD-MoDe: char; Line-HeiGHT: 150%; mso-layout-grid-align: none"> Dong Xiucheng that this price adjustment ., the effect of inflation is minimal, because oil measured in the CPI index in the statistical weight is small; another price adjustment is small, 200 yuan this range is very limited, so from the price impact on CPI, .effects can be ignored. .But the indirect impact is difficult to measure, there is a price transmission, but transmission takes time, a lag. .Dong Xiucheng, for example, prices rose, oil and its related industries, transportation and other tariffs are increased, of course, not to mention increase also depends on the market. .Running transport prices, and whether there is a market, transport prices and transport prices of goods itself. .</ P> <p STYLE="MArGin: 0cm 0cm 0pt; LAYoUT-GriD-MoDe: char; Line-HeiGHT: 150%; mso-layout-grid-align: none"> Dong Xiucheng, said oil prices of factors ., in addition to economic factors, as well as the U.S. dollar and the relationship between the futures market speculation. .Overall, the global excess liquidity, some funds may flow into the stock and futures markets, easy to push up oil prices; Another factor is the trend of depreciation of the dollar continues, the international oil denominated in dollars, the dollar oil .prices are going up. .In fact, oil prices more than 80 U.S. dollars some time ago, but also because the dollar-driven; third factor is the recovery of the world economy as a whole is stabilization, economic recovery pull itself will increase the demand for oil, integrated on the .above, Dong Xiucheng that rising oil prices trend is obvious. .</ P> <p STYLE="MArGin: 0cm 0cm 0pt; LAYoUT-GriD-MoDe: char; Line-HeiGHT: 150%; mso-layout-grid-align: none"> some have predicted oil demand in the fourth .quarter growth rate will drop, Dong Xiucheng said prices usually are seasonal, there are four quarters of the year this law, like the first and second quarter, consumer demand may be larger, which is a statistical law. .National Development and Reform Commission, however, when price adjustments, the most important measure is based on international oil prices. .Domestic consumer demand in general, not special consideration. .Prices because the country is a limit set, for example, I set to 6.8 yuan gasoline, oil companies and gas stations to sell when you can sell 6 yuan, 5 yuan can be sold, so the national price adjustment will not consider consumer demand. .Oil companies do not sell, it should say in the first half, including last year's second half, they basically are in sales, in many gas stations are all lower than the selling price set by the state. .So, even if the decline in the fourth quarter of oil consumption, it does not affect the price adjustment. .Because of the price adjustment is a minimum price. .</ P> <p STYLE="MArGin: 0cm 0cm 0pt; LAYoUT-GriD-MoDe: char; Line-HeiGHT: 150%; mso-layout-grid-align: none"> Dong Xiucheng that stocks of refined oil price .not sensitive to little effect. .Theoretically speaking, such as oil price increases, and the CNPC, Sinopec's stock should have a reaction, but it can respond, at least from the last few price adjustment process, not seen, and its sensitivity is not so strong .. .</ P> <p STYLE="MArGin: 0cm 0cm 0pt; LAYoUT-GriD-MoDe: char; Line-HeiGHT: 150%; mso-layout-grid-align: none"> Development and Reform Commission, said the responsible person 25 .strive to modify the program during the introduction of price mechanisms. .Dong Xiucheng believe that the move is for the existing mechanisms are inadequate or defective parts to be adjusted. .The inadequacies of the existing system is the most obvious relatively long period of time, easily lead to speculation. .Because the market for these price control measures, can have an expected, for example, or the down state of the tune, and so easy to form the market speculation. .</ P> <p STYLE="MArGin: 0cm 0cm 0pt; LAYoUT-GriD-MoDe: char; Line-HeiGHT: 150%; mso-layout-grid-align: none"> fact, the most recent period, the market has emerged .speculation, because we expected to price adjustment recently, so it does not sell oil. .Well if the price mechanism, then, the focus is to solve the problem of long adjusting period. .</ P>.