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China proclaims new policy to support petrochemical industry

by ChemOrbis Editorial Team - content@chemorbis.com
  • 12/09/2023 (11:00)
According to media sources, six national ministries in China have jointly issued “The Work Plan for Stable Growth in the Petrochemical and Chemical Industry” to support and ensure smooth operation and development in the sector.

Revealed in late August, the Work Plan will focus on promoting the acceleration of major project constructions, strengthening energy efficiency by technology upgrades, improving and upgrading the full lifecycle management of facilities and ensuring stable production.

The plan also aims to control and extend refining and petrochemicals capacity while also improving the value and product structure. Moreover, the plan emphasizes the importance of foreign trade, particularly exportation.

The country also targets attracting more foreign investors and becoming a leader in the petrochemicals industry.
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