Petrochemical revitalization plan encourages overseas mergers and acquisitions

[China Epoxy Network (China Epoxy Industry Online)News on April 20, 2009: It is reported that the petrochemical industry revitalization plan will be issued, and overseas mergers and acquisitions are encouraged.
The spread of the financial crisis has led to a sharp drop in oil prices, and has not smashed the wings of Chinese oil companies' overseas mergers and acquisitions.
The reporter learned from sources that following the introduction of the General Provisions of the "Petrochemical Industry Revitalization and Adjustment Plan", the detailed rules are being revised intensively and will be released in the middle of the year.
A focus of attention is to encourage enterprises to take advantage of subsidies and preferential bank loans.
Go out and grow bigger and stronger through mergers and acquisitions.
The pace of overseas mergers and acquisitions by domestic giants has begun to accelerate significantly, but risks are also perilous.
According to experts from the China Epoxy Industry Association ( subsidies for overseas mergers and acquisitions amount to tens of billions-"The possibility of final approval of this article is very high.
" The detailed rules formulation group of the "Petrochemical Industry Revitalization and Adjustment Plan" According to an expert in NDRC, the detailed rules have been formulated at the level of the Development and Reform Commission and are expected to be released in the middle of the year.
Among them, the one on encouraging overseas mergers and acquisitions of enterprises is already established.
In addition to the use of own funds, subsidies and bank loans and other preferential measures will be included in the clauses.
Although the world economy is still in a downward cycle in 2009, Chinese companies have ushered in a good opportunity for acquisition.
The expert explained to reporters that in the past, some countries that have long relied on exporting oil as their main source of income have regarded oil resources very seriously and are difficult to acquire.
However, due to the global financial crisis making these countries financially unsustainable, they are eager to sell their oil fields at a discount.

According to Feng Shiliang, deputy secretary general of the China Chemical Industry Association, the current relatively low oil price environment is a perfect opportunity.

Ben Wang 2007 enable the "Chinese epoxy net" new name retains "China Epoxy Resin Industry online" name
English name: E- .