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China’s secret stockpiles have been a great success – so far
Xi Jinping is desperate for Trump-proof access to food, fuels and metals.
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Oil and gas tanks at an oil warehouse at a port in Zhuhai. China has stepped up energy stockpiling to limit exposure to US sanctions and tariffs.
PHOTO: REUTERS
The Economist
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Seen from the skies, China’s Dongjiakou oil storage looks like a tray of god-size cake tins. As fuel fills up the tanks, their floating roofs rise, turning the containers into panettone-shaped domes. And lately, the bakers have been busy.
Some 10 million barrels of crude have been added since mid-January, taking the total to 24 million. The state-owned facility – the largest of its kind on the Chinese coast – is barely two years old. It is already 56 per cent full.
