- CNTV English - CCTV News

Studio interview: Reasons behind oil price hike justified?

04-07-2011 21:24 BJT

Watch Video

Play Video

China's top economic planner has raised domestic fuel prices, aiming to ease the burden for state-owned refiners who face climbing international oil prices. Full Story>>

For more on the issue, we're joined once again on the phone by Dr. Liu Baocheng, Professor at the University of International Business and Economy.

Q1: We've heard two voices. Consumers and the state-owned oil plants apparently have two differing opinions regarding the oil price hike. Being a consumer and also an econonomist, what do you think of it?

Q2: From your professional background, are the reasons behind the price hike justified?

Event background:

China raises fuel prices as oil climbs

China's top economic planner has raised domestic fuel prices, aiming to ease the burden for state-owned refiners who face climbing international oil prices.

People's response to fuel price rise:

Oil price hike leads some to pumps, others to bikes

BEIJING, April 7 (Xinhua) -- Dozens of vehicles lined up late Wednesday night at a gas station in Shijiazhuang, capital city of north China's Hebei Province, to have their tanks filled before another fuel price hike.

Do Chinese oil giants earn hundreds of billions of yuan?

NDRC: Oil refiners face losses as costs surging

Consumer reaction in China to soaring oil prices has been directed to the nation's largest oil refiners - Sinopec and Petrochina. Online web users, or netizens, claim the two giants were earning hundreds of billions of yuan on higher oil prices, and ripping off fuel consumers.

Oil prices rising around the world:

Other nations tackle rising oil prices

But China is not alone. Other countries, such as France and South Korea, are also being plagued by soaring oil prices. But while China is raising fuel prices, others are implementing measures to curb them.


Editor:Zhang Ning |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program