Empirical Study on the Relationship between China´s Tertiary Industry and the Oil Demand

Based on the author´s previous study on the relationship between China´s industrial structure and the oil emand, in order to continue to probe into the inherent law of China´s oil demand increase, we use cointegration method and establish vector error correction model to perform quantitative analysis on the interconnection of China´s tertiary industry and the oil demand. The research proved that, in either the respect of short-term flucation, or that of longterm equilibrium, the China´s oil demand is influenced unequally by the output value growths of the intertiary industry sectors. In addition, the oil demand has relatively strong inertia in shor-tterm, as well as the reverse adjustment capacity derived from long-term equilibrium.