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From March 21 to 23, the Third China Petroleum and Chemical Industry Technology and Equipment Localization Conference was held in Zibo, Shandong. The experts present believed that the petrochemical industry currently possesses a large number of core technologies for the design and manufacturing of key equipment with independent intellectual property rights, and domestic petrochemical equipment has seen significant improvements. However, there are still weak links in the petrochemical supply chain and industrial chain, and efforts to localize equipment in certain specific areas are not sufficient. It is necessary to enhance the intelligence, digitalization, and networking levels of petroleum equipment, as well as to promote the application of achievements made in localizing such equipment, in order to support the high-quality development of the industry. To address the risk of being held back by high-tech challenges arising from international competition, the industry must accelerate catch-up innovation to overcome these bottlenecks, and achieve innovation across multiple dimensions and pathways through a vertical integration strategy. The experts present put forward four suggestions: First, build industrial chains for leading enterprises to strengthen the connections within these chains. While supporting leading domestic petrochemical companies to expand their scale and gain dominance in the industrial chain, these companies are encouraged to adopt domestically produced alternative equipment first. Second, emphasis should be placed on digital transformation and green, low-carbon development, improving the intelligence, digitization, and networking levels of petroleum equipment to achieve carbon reduction throughout the entire life cycle as well as sustainable green development. Third, carry out various forms of collaborative innovation by identifying key technical milestones, bringing together outstanding enterprises from all segments of the industrial and supply chains, and pooling efforts to tackle challenges together. Fourth, while striving to improve the quality and efficiency of research and development of domestic equipment, efforts should be made to promote the application of the results achieved through domestic innovation efforts. Purchasing and using the first batches of domestically developed equipment should be encouraged, so as to enable competition between domestic and imported products and to create a supply chain that is independent, controllable, safe, and reliable. Achieving the localization of major petrochemical equipment requires the coordinated efforts of **, enterprises, and research institutions. Xu Gang, chairman of the Petrochemical Equipment Inspection and Maintenance Subcommittee of the Chinese Chemical Society, believes that in order to achieve the localization of major equipment, the industry should intensify its efforts to localize such equipment, key components, and control systems in areas such as oil and gas exploration and development, refining and chemical manufacturing, natural gas storage and transportation, as well as new energy and new materials. Efforts should also be made to promote the use of locally produced equipment, especially those for which localization has been successfully achieved and for which there is proven practical experience in application. Additional support measures are needed; during the procurement of materials for capital construction projects, it should be allowed to use competitive bidding or exclusive procurement for equipment and key components that have been developed through localization efforts, in order to avoid a one-size-fits-all approach and to carry out open tendering processes. Users should play a leading role, and innovation alliances involving industry, academia, research institutions, and end-users should be strengthened to improve project management and ensure that these projects are successfully implemented. The localization of petrochemical equipment also relies on digitalization and intelligence. Qu Manliang, chief engineer of the Instrumentation and Electrical Department at China Tianchen Engineering Co., Ltd., believes that domestically developed control systems for the petrochemical industry, which are protected by intellectual property rights, are essential for ensuring safety in this industry, and play a crucial role in the intelligent upgrading and digital transformation of China’s petrochemical sector. Li Zhimian, vice president of the Control Systems Product Department at Zhongkong Technology Co., Ltd., explained that the company’s new generation of control system, OMC, has been used in the localization of equipment in large-scale petrochemical enterprises, enabling innovation and upgrading in the process industry from automated operation to intelligent, autonomous operation. During the conference, a meeting was held to discuss the needs for domestically produced technical equipment; procurement managers from over 20 petrochemical companies, including Dongming Petrochemical, Fuhai Energy, Hongrun Petrochemical, and Daon Group, put forward specific requirements for the purchase of domestically manufactured equipment. In the exhibition hall of the conference, cutting-edge supporting equipment from various sectors that has been localized was on display. Among them, Zhaoqiang Titanium Magnet Technology displayed the magnetic fluid sealing technology that won the **Second Prize for Technical Invention**, while Yunjie Zhi Valley showcased high-performance chemical absorption materials.