In the first half of the year, my country's RCEP petrochemical trade increased by 12.5%

On August 4, Pang Guanglian, member of the Standing Committee and Deputy Secretary General of the Party Committee of China Petroleum and Chemical Industry Federation, and Secretary General of China Petroleum and Chemical Industry International Production Capacity Cooperation Enterprise Alliance, said in an interview with a reporter from China Chemical Industry News that the "Regional Comprehensive Economic Partnership Agreement" (RCEP) has been in effect for half a year, and the petrochemical and chemical trade between China and RCEP countries has grown steadily.
Based on the strong momentum of high-quality chemical development and the promotion of energy transformation by the "two-carbon" strategy, the cooperation between China and RCEP countries in the field of energy and chemical industry is further deepening.

.

The latest statistics from the Petrochemical Federation show that in the first half of the year, the total petrochemical trade between China and RCEP countries reached US$140.
79 billion, a year-on-year increase of 12.
5%
.
Among them, petrochemical trade volume rose sharply in June, and exports increased by 38.
5% year-on-year
.

Statistics show that in the field of petrochemical trade with RCEP countries, South Korea, Malaysia, Japan, etc.
are China's main trading partners, which can be called the first echelon dominated by technology.
China mainly imports high-end chemicals and chemical materials from the above countries
.
In the first half of the year, the petrochemical trade volume between China and South Korea reached 32.
43 billion US dollars, ranking first in total, with a year-on-year increase of 14.
9%; the trade volume with Malaysia was 24.
81 billion US dollars, Malaysia has surpassed Japan to become China's second largest trading partner; 20.
63 billion US dollars, a year-on-year increase of 9.
8%, which has not reached the overall level of intra-regional trade with RCEP, but still has great development potential in the long run
.

The second tier is resource countries represented by Singapore, Thailand, Vietnam, Indonesia and Australia
.
The petrochemical trade volume between these countries and China is between 10 billion and 13 billion US dollars, and most of them are imported from China
.
For example, China's imports to Australia account for a relatively high proportion, and the main imported products are liquefied natural gas (LNG) oil and gas products
.
In addition, China's imports of synthetic fibers and pesticides to Australia also increased by 50.
9% and 82.
5% year-on-year, respectively
.
At the same time, due to the tariff reduction and exemption of some chemicals, the price advantage of China's chemical products has gradually increased
.
China's exports of specialty chemicals to RCEP countries amounted to US$7.
82 billion, a year-on-year increase of 55.
7%
.
Exports of rubber products to ASEAN amounted to US$630 million, a year-on-year increase of 44%
.

The third echelon is the countries with smaller chemical volume represented by the Philippines, Myanmar, Cambodia, Brunei, New Zealand, and Laos
.
China's petrochemical trade with these countries is dominated by exports, with a trade volume of less than 4 billion US dollars
.
China mainly exports petroleum products, synthetic resins and some special chemicals to these countries
.

Pang Guanglian said that in the first half of the year, China's total petrochemical trade with the world was 531.
38 billion US dollars, a year-on-year increase of 32.
5%; China's petrochemical trade with RCEP member countries has accounted for 26.
5% of the total global trade
.

It is also understood that within half a year, RCEP's "circle of friends" continued to expand
.
At present, the number of effective members of the 15 signatory member states of RCEP has reached 13, and RCEP is continuously releasing more dividends for enterprises and consumers in each member state
.