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At the \"Carbon for a Sustainable Future\" initiative and the 22nd Report on New Trends in Sustainable Development held in Beijing on April 22, the China Business Council for Sustainable Development (CBCSD) jointly released the report \"Analysis of New Trends in the Petrochemical Industry\" with Sinopec Group Economic & Technical Research Institute Co., Ltd. (hereinafter referred to as Sinopec Economic & Technical Research Institute). The report states that during the 15th Five-Year Plan period, the petrochemical industry will focus on four key areas: safety, value, innovation, and sustainability. The report outlines the development trends in the petrochemical industry and points out that three major changes have taken place in China’s petrochemical sector: first, the production capacity for most major petrochemical products has risen to among the highest levels in the world, with accelerated expansion of production scales, though issues related to structural imbalance and homogenization have also become more apparent; second, the industrial layout has been optimized more rapidly, and cluster effects are gradually emerging; third, the transition toward higher-end products is advancing steadily, while green development is accelerating significantly. Dou Hongjun, director and Party secretary of Sinopec’s Research Institute, said while interpreting the report that, based on statistical analysis of these changes, the report predicts the development trends of the petrochemical industry during the 15th Five-Year Plan period, focusing on four aspects: safety, value, innovation, and sustainability. First, the pressure of misalignment in capacity supply has become a regular phenomenon, and mechanisms for optimizing and balancing capacity will continue to be developed. Second, the pressure of rigid resource constraints will persist over the long term, and the capacity to ensure resource security will continue to improve. Third, the pressures from geopolitical and economic competition among major powers are increasing, and the security of industrial and supply chains will continue to be strengthened. Fourth, the demand for new materials is expanding at an accelerated pace, and the response speed to demand in strategically important emerging industries is likely to be even faster. Fifth, the scope for applying new technologies is expanding rapidly, enabling stronger capabilities to gain an advantage in industrial competition. Sixth is the deeper expansion of opportunities in new market development, allowing for more accurate identification of prospects in international emerging markets. Seventh, the requirements for the development of new forms of productive capacity continue to strengthen, and industrial transformation and upgrading will accelerate further. Eighth, the high-end product portfolio continues to evolve, which will keep driving the shift in the product application structure toward strategic emerging fields. Ninthly, the intelligent production system is being developed at an accelerated pace, which will continue to drive the transformation of product manufacturing toward safety, efficiency, and intelligence. Tenth, the green governance system is continuously improving, which will keep driving the transition from end-of-pipe treatment to a green and low-carbon approach. Eleventh is the deepening and expansion of the international cooperation framework, which will continue to drive the transformation of product competition toward open cooperation.