The "Petrochemical Industry Adjustment and Revitalization Plan," commonly referred to as the "Plan," recently released in full text, has sparked significant reactions within the petrochemical sector. However, many of its provisions remain broad and general, leaving industry players wondering when the plan will be implemented and become a central focus. According to a report from the China Petroleum and Chemical Industry Association, two key supporting documents are still in development and are expected to be unveiled between mid-July and late July this year. These documents are seen as crucial for translating the "Plan" into actionable policies.
"The two documents include the 'Guiding Opinions on the Structural Adjustment of the Petroleum and Chemical Industry,' led by the Industrial Development Department of the Petrochemical Association, and the 'Guiding Opinions on the Revitalization and Support of the Petroleum and Chemical Industry,' led by the Ministry of Science and Technology of the same association," an official from the association told the reporter. The purpose of these documents is to provide concrete guidance for structural reforms and technological support, ensuring that the high-level principles outlined in the original plan are effectively implemented.
According to the official, one document outlines the overall strategy and direction for structural adjustment, while the other focuses on leveraging science and technology to drive industrial restructuring, technological upgrades, and energy efficiency improvements. Specifically, the "Guidelines for Technical Support in the Revitalization of the Petroleum and Chemical Industry" includes two main categories: first, advanced, applicable, and mature technologies that should be widely adopted; second, key common technologies that require collaborative efforts to resolve. Draft versions of both documents are expected to be finalized by the end of June, with further consultations across government departments before their official release in mid-to-late July.
"The current plan and its supporting documents are not set in stone. Each year, the state revises and refines the content of the plan based on new circumstances and challenges. After all, no one can claim that the current version is entirely accurate or complete," the official added. This dynamic approach suggests that the petrochemical industry should stay alert and prepared for ongoing policy adjustments in the coming months.
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