Thread Content
The plan for revitalizing the petrochemical industry will be introduced, with emphasis on supporting projects such as fertilizers. The highly anticipated plan for revitalizing the petrochemical industry is still pending approval. Reporters learned yesterday from a person involved in the planning process that the draft plan still needs to go through several rounds of expert review and coordination among various ministries before it can be finalized and submitted to the State Council for consideration. If approved, it is expected to be introduced as early as this month. Given China’s national conditions and the actual situation of the industry, oil refining and fertilizer production will be the focus of the plan. Last month, domestic media reported that the plan was set to be submitted to the State Council before the Spring Festival. However, the aforementioned individuals told reporters that the revitalization plan for the petrochemical industry is far more complex than the plans already formulated for the steel and automotive industries, and involves numerous sub-industries; as a result, its drafting will not be completed any time soon. He expects that at least another three or four rounds of expert reviews will be required, as well as coordination between the National Development and Reform Commission and the Ministry of Industry and Information Technology, before a final version can be established. Only after being reviewed and approved by the State Council can it be made public. “However, given the urgency of boosting domestic demand and revitalizing the industry, the formulation of the plan will not be delayed for too long; it is expected to be finalized within this month. At present, the parties mainly have differing opinions regarding the scale of investment in the refining project. ”The aforementioned person revealed. According to previous industry reports, the petrochemical industry revitalization plan may outline an investment roadmap for refinery renovation projects over the next two years, with an estimated 100 billion yuan to be allocated to upgrading domestic refineries. In addition, dozens of new projects and acquisitions of resource-related projects will also receive policy support, involving investments of over 400 billion yuan. “Refining plays a leading role in the entire petrochemical industry, and its impact on boosting domestic demand is quite significant. Therefore, it is beyond doubt that refining has become the focus of this petrochemical industry revitalization plan. ”Dong Xiucheng, deputy dean of the School of Business Administration at China University of Petroleum, said in an interview with reporters yesterday. According to him, the planning for refining projects mainly involves expansions, renovations, and new constructions. Previously, several large-scale integrated oil refining projects have been launched in various regions, and there are also many small-scale oil refining projects in the pipeline for construction; however, many of these projects have not yet received the final approval from **. “Originally, the approval outcomes for these various oil refining projects across different regions were unclear, which could easily lead to duplicate investments. One of the purposes of formulating this plan is to outline some of these projects in a formal plan format; those projects that are approved can be built with confidence, while those that are not included in the plan will lose policy support. ”Dong Xiucheng said. According to the individuals involved in the planning process, given the important role of agriculture in China’s overall economy, this plan will also focus on providing support for the development of the fertilizer industry, potentially covering areas such as taxation and stockpiling. Previously, the reporter learned from another person familiar with the matter that oil reserves, especially commercial reserves, are also part of this plan. Lin Boqiang, director of the Energy Economics Research Center at Xiamen University, told reporters yesterday that \"during this period of low oil prices, we should seize the opportunity to purchase large amounts of oil, accelerate the buildup of oil reserves, and enhance China’s energy security.\" The Petrochemical Revitalization Plan will make China’s oil reserves, particularly commercial reserves, more systematic. ”