Even after three decades of rapid economic growth, during which China became the world’s leading exporter and second-largest economy, the country imports just 10 per cent of its annual energy requirement. That is thanks primarily to vast domestic reserves of coal, which supply 70 per cent of its energy.
The 10 per cent that China must import is, however, still the same amount of energy that is needed to power the UK, the world’s sixth-largest economy.
Most of China’s energy imports are in the form of crude oil. Despite being the world’s fifth-largest oil producer after Iran, China trails only the US as a net importer of crude oil.
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