At the recently concluded Straits Petrochemical Industry Development Forum, experts from the Petroleum and Chemical Planning Institute emphasized that during the "Eleventh Five-Year Plan" period, China's petrochemical industry should follow four key directions to ensure sustainable and efficient growth.
Firstly, there is a need to strictly regulate the expansion of refining capacity in small-scale, inefficient, and oil-over-supplied regions. This involves optimizing the distribution of crude oil resources and reconfiguring the layout of the refining sector. Smaller refineries should be shut down or relocated, with strict measures in place to prevent their resurgence. Resource allocation must be based on regional consumption patterns and diverse oil sources. By 2010, selected refineries are expected to expand by 20 million tons, with these bases accounting for approximately 64% of the country’s total refining capacity.
Secondly, the development of supporting infrastructure for crude oil and refined oil reserves and transportation must be accelerated. This includes expanding import and export capabilities, improving storage and unloading facilities, and speeding up the construction of crude oil terminals and strategic reserve bases. Additionally, pipeline networks for crude oil and refined products should be expanded, while the transportation structure is adjusted to reduce costs and improve efficiency.
Thirdly, the industry should continue to promote expansion through energy-saving and emission-reduction strategies, aiming to enhance competitiveness. The model of "base, large-scale, integrated, and specialized" development will drive structural adjustments and industrial upgrades. With principles such as resource optimization, market-oriented product development, cost savings, and profit maximization, the "three rounds" of expansion for existing large ethylene companies will continue. New large-scale ethylene plants will be built where conditions allow, and several world-class integrated petrochemical complexes are expected to be established in the Yangtze River Delta, Pearl River Delta, and Bohai Rim regions by 2010, ensuring better use of regional resources and comprehensive planning for industrial restructuring.
Lastly, the development of chemical products such as synthetic resins, synthetic fiber monomers, and synthetic rubber should be accelerated. While maintaining and enhancing the competitiveness of state-owned enterprises, foreign and private capital with strong financial backing are encouraged to participate in the development of ethylene and its downstream products. This will foster healthy competition among different ownership types and help build production capacity for ethylene and related products more efficiently.
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