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At the 2020 Petrochemical Industry Development Conference held on June 2, Sun Weishan, vice president of the China Petroleum and Chemical Industry Federation, released the "2020 Key Petrochemical Product Capacity Early Warning Report"
.
In 2019, the Petrochemical Federation focused on monitoring the changes in the capacity utilization of 23 key petrochemical products in 11 categories, including oil refining, basic petrochemical raw materials, and paraxylene
.
The report also mentioned that the recent Sino-US trade frictions, the new crown pneumonia epidemic and other unfavorable factors have superimposed, adding difficulties and challenges to China's economic, social and industrial development
.
Sun Weishan pointed out that due to factors such as the decline in market demand and import and export trade, and the shutdown of some enterprises due to the epidemic, the overall capacity utilization rate of the petrochemical industry is expected to decline slightly in 2020
.
Sun Weishan also said that the "14th Five-Year Plan" period is a critical period for China to transform from a big petrochemical country to a strong petrochemical country.
On the one hand, the current petrochemical industry should fully recognize the severity, complexity and long-term nature of the situation, and enhance the sense of urgency; on the other hand It should also be seen that China's economy will remain stable and sound, and the long-term positive trend will not change
.
