China's revitalization of petrochemical industry planning may be introduced in the near future

According to the “First Financial Daily” report, an inspector from the Raw Materials Division of the Ministry of Industry and Information Technology revealed that draft plans for the revitalization of the petrochemical industry are expected to be issued after the Spring Festival. Mei Shengfang, secretary general of the fluorosilicone organic material industry association, said that the council reported yesterday to the Ministry of Industry and Information Technology, which mentioned the planning for the revitalization of the petrochemical industry.

The core personnel participating in the plan refer to planning crude oil and refined oil reserves involving commercial reserves, or providing financial support for the construction of refinery projects, and some projects may have government discount loans.

Another person familiar with the matter said that the plan may refer to the adjustment of export tax rebates for products such as synthetic resins and synthetic rubber, but it is uncertain whether it will eventually be accepted. In addition, the plan will support and encourage certain specific projects. At present, petrochemical associations around the country are actively reporting and the number has exceeded 100.

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