HIGH OIL PRICE

   In futures market, International oil prices have repeatedly hit record high, The oil price has been soaring since the early of this year, and lingered at above US$90 per barrel for a while lately.

In financial market and oil industrials, speculating capitals and oil capitals has gained much more profits. We are informed that China's Oil Giants Benefited from High Oil Price, State-owned big-three oil companies - PetroChina, Sinopec Corp and CNOOC Ltd - posted net profit increases ranging from 15 percent to 50 percent for the first six months of this year.

At same time, high oil prices also imposing unprecedented impact on the economic growth and citizens' life all over the world.

I think, the government could not be a bystander. In order to stabilize the domestic oil market, ensure a safe oil supply, and reduce the impact of high oil price on China's economic growth, the Chinese government should take more active measures to address these issues as soon as possible.