[Coal Chemical Industry] 2021 China Energy and Chemical Industry Development Report released

On December 17, Sinopec issued the "2021 China Energy and Chemical Industry Development Report".

The report believes that during the "14th Five-Year Plan" period, China will become one of the practitioners to promote global carbon emissions to peak in advance.

Both sides of the world's oil supply and demand will enter a new stage of high stocks and low increments.

The report believes that during the "14th Five-Year Plan" period, my country's refining and chemical industry will accelerate structural adjustment and achieve high-quality development.

The second is to achieve differentiated and high-end development of chemical products.

The third is to attach importance to technological innovation including heavy oil processing and transformation, high-end chemical material production, plastic recycling, and digitalization of refining and chemical enterprises.

At present, China's oil refining and ethylene capacity ranks second in the world, PX production capacity has leapt to the world's first, and the number of ten-million-ton refineries has increased, forming refining and chemical industry clusters in the Bohai Rim, Yangtze River Delta, and Pearl River Delta.

The report pointed out that the spread of the global epidemic and low oil prices have smashed the global oil industry, and international oil companies have fallen into a recession in the past decade.

The report emphasizes that the hydrogen energy industry will help China's future green energy development.

(Keywords: Industrial Development)