China plans compulsory commercial reserve system, alongside with government’s strategic oil reserve, to consolidate and optimize oil reserve structure, Beijing Morning Post reported.   The latest report of MACD, a research institute on China’s energy policy, said that Chinese government may follow the examples of more developed countries, consolidating its oil reserve structure with commercial oil reserve system.   Associate Minister of the Ministry of Finance, Zhu Zhigang, commented that the Ministry of Finance is constructively planning an oil reserve system and its specific financial structure. The preliminary idea is to organize and supervise the country’s official strategic reserve with corporate as well as commercial research, which can maximize China’s oil security as well as reduce financial burden on the part of the government.   Although oil prices continue to rise, China is planning the country’s strategic oil reserve. The construction of the first crude oil reserve site has already finished. The government is in search of the site for the second phrase of construction for 2 million barrels of crude oil.   Chief of National Development and Reform Commission, Ma Kai, also stated that the government has begun commercial negotiations with Sinopec, PetroChina and China National Offshore Oil Corp to discuss the possible increase on their investment in commercial oil reserves.   Zheng Jingping, a spokesman from the National Bureau of Statistics, said on July 18 that China’s crude oil import has a year-on-year 15.6 percent growth in the first half, which amounted to 7333 million tones.