A 10-US-dollar rise for the international crude oil price per barrel will lead to the drop of 0.1 per cent of China's GDP growth for the current year, 0.4 per cent drop for the next year and 0.5 per cent drop for the third year while inflation rate will be up 0.2 per cent for the current year, and 0.3 per cent drops respectively for the next two years, according to the National Business Daily.

Although China will slow down imports of petroleum next year, China will still face a high oil price challenge in its economic growth, forecast some officials and experts at the "2006 Seminar on Petroleum Market'' held on Monday. They believe that it should be a key to streamline oil price and bring it in line with international practice in order to cope with the challenge.

People's Daily