China's oil demand is expected to reach 450 mln to 500 mln tons a year by 2020 with its dependency on imports for its total needs increasing to over 60 pct, the official Securities Time reported, citing an official with the State Energy Leading Group.

Last year China imported 136 mln tons of oil with its import dependency level at 43 pct.

Fang Junshi of State Energy said based on current growth rates the country's oil consumption is likely to have risen 100 pct by 2010 from levels seen in 2000. He estimated oil consumption in 2010 at 430 mln tons.

China's GDP expanded 10.4 pct year-on-year in the third quarter, down from a rise of 11.3 pct in the second quarter.