Multinational petrochemical giants optimistic about the Chinese market

Strong performance growth in China is fully supported by policy measures

The world economy, which has been severely hit by the new crown pneumonia epidemic, is coming out of the trough, and it is also facing many constraints

The multinational petrochemical giants have recently announced their 2021 financial reports one after another

Lei Huanli, global senior vice president of polymer giant Covestro and president of China, said that in 2021, Covestro's sales in China will account for 22%, a year-on-year increase of 57.

Exxon Mobil's 2021 operating income is US$285.

BASF’s 2021 financial results showed sales of EUR 78.

Bayer announced its 2021 annual financial report, with group sales of 44.

Good performance is inseparable from Chinese policy support

The good performance of multinational companies comes from China's opening of doors

　　After the outbreak of the epidemic, the major developed economies represented by the United States quickly introduced ultra-loose policies, especially the expansionary fiscal policy to rapidly amplify demand in a short period of time, trying to "demand-driven recovery"

　　"China's 14th Five-Year Plan and policy measures have become a catalyst for BASF's deployment in China

　　The good performance of multinational enterprises also comes from China's safe, stable and reliable development environment

　　Multinational companies continue to be optimistic about the Chinese market

　　The good performance of multinational companies in the Chinese market is particularly valuable, which makes multinational companies increasingly confident in their long-term development in China

　　The Guangdong Provincial Development and Reform Commission recently announced the "Guangdong Provincial Key Construction Project Plan in 2022".

　　"Our investment in key growth projects at the new Zhanjiang integrated site is critical to driving BASF's future growth,

　　"Demand for high-performance polymers in China will continue to grow, and we are well-positioned to help meet the demands of this growing global market,

　　On March 8, Sinopec and Saudi Aramco signed a memorandum of understanding.

　　Mohammad Qahtani, senior vice president of Saudi Aramco's downstream business, said that the signing of the memorandum is a new chapter in the long-term cooperative relationship between Saudi Aramco and Sinopec
.
This will further facilitate the integration and expansion of Saudi Aramco's downstream business in Asia to meet its growing energy needs by supplying low-carbon-intensity crude oil to China
.
On March 10, Fujian Zhongsha Petrochemical Co.
, Ltd.
, a joint venture between global petrochemical giant Saudi Basic Industries Corporation and Fujian Nenghua Group, was officially registered and established.
The project plans to invest about 40 billion yuan
.
"Take the express train of China's economic development and share the vast opportunities of the Chinese market" has gradually become the consensus of multinational petrochemical giants
.