By Hou Yongzhi, Xuan Xiaowei and He Jianwu　

Date: 2003/03/19

Abstract: 　　

With the economic development and opening-up to the outside world, China's economy has become all the more dependent on foreign market and resources, especially on petroleum resources. China's economic performance will surely be affected by the overall fluctuation of import price. Through macro CGE model, the article makes a simulation impact on China's economy by the fluctuation of international crude oil price. The results show that the rise of international oil price or the general level of import price will lead to the surge of the general level of domestic price and bring about a negative impact on GDP.