Even the US with 25% of China's population has close to 1 billion barrel capacity. Based on current US consumption that is only slighly over a month of reserves. China's reserves will last about the same amount of time.
India on the other hand will last only a week.
The China produce only 25% of the US oil production at 4 million barrel per day. It should at least increase its storage capacity to 4 billion barrels.
Electricity
China 4,715 TWh 79% Coal 1.8% LNG 0.2% Oil 15% Hydro Solar/Wind/Other 2% Nuclear 2%
US 4,326TWh 43% Coal 24% LNG 1% Oil 7% Hydro Solar/Wind/Other 5% Nuclear 19%
Nuclear and Alternative energy producing resources should increase too.