Thread Content
According to Sinochem News, on November 25, the International Cooperation Forum for private enterprises in the petroleum and chemical industry, which was part of the 2025 Conference on the High-Quality Development of the private economy in China’s petroleum and chemical sector, suggested that the industry should continue to deepen its efforts in both bringing in foreign expertise and going global, thereby advancing international cooperation to a higher level. Pang Guanglian, a member of the Party Committee’s Standing Committee, deputy secretary-general of the China Petroleum and Chemical Industry Federation, as well as director and secretary-general of the Foreign Investment Committee, presided over the meeting. By citing specific examples, he shared the achievements, characteristics, and development trends of private petrochemical enterprises in terms of both attracting foreign investment and expanding overseas operations, sparking lively discussions among the attendees. In terms of attracting foreign investment, foreign companies have established R&D and production facilities in China ； Work together with private enterprises to tackle key technical challenges and focus on cutting-edge areas such as green manufacturing processes, build a full industrial chain ecosystem ranging from core raw materials to end applications, and jointly establish international standards. “In terms of \"going global,\" private enterprises are expanding large-scale, integrated projects overseas, building core competencies in green sustainability and digitalization, and actively pursuing localization. Regarding the approach of \"bringing in\" resources, representatives of various multinational companies believe that China’s market size, the resilience of its industrial chains, and its development potential are irreplaceable. They will continue to strengthen cooperation with Chinese enterprises, including private firms, in order to create value together in areas such as sustainable development and technological innovation. Han Wei, Vice President of BASF Group Research, said that the Chinese market has always held strategic importance for BASF. They are willing to work together with local petrochemical enterprises to pursue a path of high-quality development that is green and low-carbon. Fu Limin, Vice President of Liandeh Basel’s Polyolefins Business and Joint Venture Management in China, said that the company complements the strengths of Chinese private enterprises, actively develops a circular economy, and promotes the green transformation of the polyolefins industry. Jia Jixiao, Global Vice President of Cabot Corporation and Director of Carbon-Silicon Materials Technology Solutions for the Asia-Pacific region, used the partnership with the Tianjin joint venture as an example, pointing out that trust, pragmatism, and innovative collaboration are what enable multinational companies and private enterprises to work in harmony. Ma Jianjun, Deputy Secretary of the Party Committee and Deputy Director of the Management Committee of Tianjin Economic-Technological Development Area, said that many well-known domestic and international enterprises have established themselves in this area. They will continue to optimize the business environment, build a petrochemical industry cluster with global influence, and create new opportunities for Chinese and foreign enterprises to pursue common development. Regarding the strategy of \"going global,\" the attendees believed that, in the context of the reshaping of the global landscape, private petrochemical companies facing expansion overseas encounter both strategic opportunities as well as challenges such as compliance risks, cultural differences, and the need to adapt to local policies. Several guests emphasized that compliance is the minimum requirement for surviving in foreign markets; companies must respect local laws and regulations and give importance to professional advice. Xu Zilan, Managing Director of Ankerui Consulting in China and former Vice President of the U.S.-China Business Council, suggests that companies should choose suitable regions based on their own technical and product strengths. Zhu Guilong, general manager of Collin Energy Technology (Beijing) Co., Ltd., said that private enterprises should work together with upstream and downstream companies to build overseas ecosystems and enhance their resilience to risks. Zhou Yi, a global managing partner at McKinsey, noted that against the backdrop of declining profits in the global petrochemical industry and an increasing trend toward regionalization, internationalization has become a new path for rapid growth for Chinese private enterprises. He believes that the well-developed chemical industrial parks in Southeast Asia, along with the steady growth in demand for downstream derivatives, can serve as an important starting point for private enterprises to expand their operations overseas. Lin Tianen, Director of Government Affairs at LG Chem (China) Investment Co., Ltd.; Zhang Jianbo, General Manager of Bureau Veritas Tianjin Safety Technology Co., Ltd.; Tian Hua, President of Actek China; Cheng Hong, Director of Government Affairs for the Asia-Pacific region at Huntsman Corporation; and Sun Chunguang, General Manager of Tianjin Lianlong New Materials Co., Ltd., also participated in the roundtable discussion.