Li Yongwu: Demand blowout in the petrochemical sector in the next five years

From January to July, the total output value of enterprises above designated size in the industry reached 6.26 trillion yuan, an increase of 34.9% year-on-year. Among them, the output value of specialty chemicals reached 914.58 billion yuan, a year-on-year increase of 42.2%, which was 7.3 percentage points higher than the average growth rate of the industry. Foreign investment was 46.55 billion yuan, a year-on-year increase of 25.6%, which was 6.7 percentage points higher than the industry average.

New Finance: The petroleum and chemical industries have become a global industry. The degree of international division of labor and cooperation is high. All countries have become an integral part of the global oil and chemical industry chain. What is the current size of China's oil and chemical industry and what progress has China made in international exchange and cooperation?

Li Yongwu: In 2010, China's oil and chemical industry enterprises above designated size achieved a total output value of 8.88 trillion yuan, 1.6 times more than in 2005. Among them, the output value of foreign-funded enterprises reached 1.15 trillion yuan, an increase of 9.2 times. In fact, since the reform and opening up in China, China’s petroleum and chemical industries have carried out extensive and in-depth international exchanges and cooperation. Along with the process of global economic integration, the fields of cooperation have been continuously expanded, the content has been continuously deepened, and the level has been continuously improved. Both Chinese and foreign parties are Great progress has been made in cooperation. At present, the entire industry has reached 458.78 billion US dollars in imports and exports, an increase of 1.3 times, well-known multinational companies have entered China to carry out business. PetroChina and chemical companies are also actively "going out" to expand international markets and conduct international business. Foreign companies, especially multinational corporations, have technological advantages, financial advantages, management advantages, and human resource advantages. They can also do a lot in accelerating the transformation of China's development methods. This has created greater room for cooperation between Chinese and foreign oil and chemical companies.

New Finance: In the first half of this year, what were the developments in China's petrochemical industry?

Li Yongwu: Since the beginning of this year, China's petroleum and chemical industries have vigorously promoted structural adjustment, technological innovation, and energy conservation and emission reduction. While achieving stable and rapid growth, the quality and benefits of development have improved significantly. From January to July, the total output value of enterprises above designated size in the industry reached 6.26 trillion yuan, an increase of 34.9% year-on-year. Among them, the output value of specialty chemicals reached 914.58 billion yuan, a year-on-year increase of 42.2%, which was 7.3 percentage points higher than the average growth rate of the industry. Foreign investment was 46.55 billion yuan, a year-on-year increase of 25.6%, which was 6.7 percentage points higher than the industry average. It can be said that the current development of China's oil and chemical industry has laid a good foundation for further cooperation between Chinese and foreign companies.

New Finance: At present, China has become a world leader in the production and consumption of petroleum and chemical products. In the next five years, it will be a tough time for China to deepen its reform and opening up and speed up the transformation of its economic development mode. Does this mean that China will usher in rigorous demand in the petrochemical industry?

Li Yongwu: This is indeed the case. In recent years, the Chinese economy has always been an important driving force for the world economy. Especially after the international financial crisis, the Chinese government has adopted various measures in a timely and scientific manner to promote economic recovery and rapid growth, in order to promote the recovery of the world economy. Good made important contributions. In the next five years, China's petroleum and chemical industries will enter a new stage of development. China's industrialization, informatization, urbanization, marketization, and internationalization will be further promoted, and the pace of upgrading the consumption structure of residents will continue to accelerate. China's economy will continue to be stable With a relatively rapid growth, related industries such as agriculture, textiles, light industry, building materials, automobiles, and large aircraft will place greater demands on petroleum and chemical products. In particular, the rapid increase in demand for high-end chemicals will provide greater opportunities for foreign companies. With market opportunities, Chinese and foreign oil and chemical companies will also face new and greater opportunities for cooperation and development.

New Finance: In your opinion, what are the preparations China needs while preparing for the deeper exchange and cooperation with the international market? What achievements have China's petrochemical industry achieved?

Li Yongwu: In the next five years, China's oil and chemical industry has achieved a series of breakthroughs in major key common technologies such as new coal chemical technology, petroleum exploration and development technology, new catalytic technology, automatic control and information technology, and new environmental protection and energy saving technologies. Achievements. Among them, some technological achievements, such as "the development and application of naphtha catalytic reforming technology package", modern coal chemical technology, "an annual output of 200,000 tons of large-scale MDI production technology", etc., have reached the international advanced level in related fields. A number of enterprises have established a dynamic modern enterprise system through reform and reorganization, and their international operation and management capabilities have been greatly enhanced. Some companies have already begun to “go global” and cooperate with local companies abroad to make contributions to the development of the local economy. . At the same time, China's petrochemical industrial base and chemical park construction have also made positive progress, and the infrastructure and service system in the park have been further improved. All these have created better conditions for cooperation between Chinese and foreign companies.

New Finance: In your opinion, what are the contradictions and problems in China's petrochemical industry? How will China's oil and chemical industry develop in the future?

Li Yongwu: China's current petrochemical industry structure is irrational, technological innovation capability is not strong, the degree of industrial concentration is low, the pressure of constraints on resources and environment and other deep-level conflicts and problems are increasingly prominent, high input, high consumption, high emissions, low efficiency The traditional way of development has been difficult to sustain. In the next five years, China's petroleum and chemical industries must take a new road to industrialization, accelerate the transformation of development methods, vigorously develop strategic emerging industries and high-end products, and further increase energy conservation and environmental protection levels in order to achieve healthy and sustainable development.