Abstract
This paper analyzes and examines the impact of international crude oil price fluctuations on China's economy. By constructing an SVAR model between crude oil prices and China's economy, prices and monetary policy, we study the impact of crude oil price fluctuations on some important economic indicators in China and explore their intrinsic relationships. The empirical results show that the increase in crude oil prices has a significant positive impact on the consumer price index and producer price index; it has a negative impact on industrial production in the short term, but fails to change its overall development trend. Overall, the economic system based on crude oil prices is stable, despite the fact that international crude oil prices are influenced by various complex and variable international factors.
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