According to the recent report by IEA, the growth of America's oil demand in 2013 has surpassed China for the first time since 1999. Although the growth of China’s oil demand has slowed down but the overall demand is still increasing in long term. The Chinese government is cautious in opening up the rights for oil import. And the latest policy requires the nation to limit its dependency on oil import at no more than 61%. However, ANBOUND research team anticipated that industrialization and urbanization will lead to rigid demand that increase China’s dependency on oil import in the future. Therefore, China will eventually become the world’s largest oil importer.