Chinese premier tours oil, grain stockpiles as Beijing boosts Iran war response
Beijing is bolstering strategic reserves and accelerating the buildout of distribution hubs, as China rushes to adapt to the Middle East crisis
Chinese Premier Li Qiang inspected strategic oil reserves and grain stockpiles in one of China’s main economic hubs earlier this week, as the world’s second-largest economy steps up efforts to insulate itself from the Strait of Hormuz crisis.
During a trip to Zhoushan and Ningbo in China’s eastern Zhejiang province, Li called for the accelerated construction of commodity distribution hubs to safeguard China’s national security. He also stressed the need to maintain adequate reserves of essential commodities and materials and create more resilient supply chains.
“Maintaining adequate reserves of commodities and critical materials is of great significance for the stable operation of the economy and society,” he said, according to a Xinhua report published on Wednesday.
“With grain in hand, one does not panic,” the premier added, quoting a traditional Chinese maxim.