On July 19th, Fu Xiangsheng, vice president of China Petroleum and Chemical Industry Federation, attended the investment promotion meeting of petrochemical new materials industry in 2024 Danyang Economic Circle of Hainan Free Trade Port in Ningbo, Zhejiang Province. he shared the operation of the petrochemical industry in the first half of this year, the accelerated adjustment and transformation of the petrochemical industry to meet the new requirements of high-quality development in the new era, and the importance of coordinated development of Yangpu Economic Development Zone and Ningbo Petrochemical Base. The main points of the speech are now edited here for reference by people in the industry.

Distinguished guests, Ladies and Gentlemen: good morning!

It gives me great pleasure to be invited to attend the investment promotion meeting of petrochemical new materials industry in the Danyang Economic Circle of Hainan Free Trade Port in 2024. First of all, please allow me, on behalf of the Petrochemical Federation, to congratulate this promotion meeting held in Ningbo! I would like to congratulate Yangpu Economic Development Zone, Ningbo Petrochemical Economic and technological Development Zone and Daxie Development Zone on their remarkable progress and outstanding achievements in innovation and development in recent years. I would like to express my heartfelt thanks to Ningbo Petrochemical Economic and technological Development Zone, Yangpu Economic Development Zone and Daxie Development Zone for their long-term good cooperation with the Petrochemical Federation and for their strong support to the work of the Petrochemical Union.

Taking the opportunity of today's speech, I would like to share with you three points:

First, the operation quality of the petrochemical industry further improved in the first half of this year. In the first five months of this year, the petrochemical industry achieved an operating income of 6.62 trillion yuan, an increase of 5% over the same period last year, a profit of 351.9 billion yuan, a drop of 3.4% over the same period last year, and a total import and export volume of US $383.14 billion, down 3.7% over the same period last year. On this basis, it is estimated that in the first half of the year, the operating income of the petrochemical industry will reach 8 trillion yuan, the profit will be 420 billion to 430 billion yuan, and the total import and export volume will be 460 billion US dollars, which will be significantly better than that of last year.

Second, the development of the petrochemical industry is in a critical period of transformation and upgrading. The world chemical industry started the process of rapid development almost at the same time as the second Industrial Revolution. After the end of World War II, the world chemical industry accelerated the transformation from coal chemical industry to petrochemical industry. Since then, petrochemical products and petrochemical materials have continuously enriched people's lives and promoted the progress of society and civilization. At present, from clothing, food, housing and transportation to aerospace, from automotive electronics to national defense and military industry, especially high-end manufacturing and strategic emerging industries, are inseparable from the support and important guarantee of petrochemical products and materials. But today, dealing with the climate crisis and high-quality economic development have put forward new requirements for the transformation and upgrading of the petrochemical industry.

In order to deal with the climate crisis, we are required to speed up the transformation from fossil energy to clean energy; in order to implement the "double carbon" strategy, we are required to speed up the promotion and application of new technologies for energy saving and carbon reduction, while promoting the petrochemical industry to speed up the transformation of green power substitution and coupling with green hydrogen; in order to meet the needs of major national strategies and key projects, the petrochemical industry is transforming to high-end and differentiation through innovation-driven development strategy. In order to meet the new requirements of high-quality development in the new era, the petrochemical industry is speeding up the adjustment and transformation of layout optimization, raw material structure optimization and product structure optimization. Through the innovation and application of component refining, molecular refining, short process reaction process, new catalytic technology, efficient separation technology and new generation information technology, the petrochemical industry is also promoting the transformation of lightweight raw materials, green production, low carbon process and intelligent management and control. It can be seen that today's petrochemical industry is in a critical period of transformation and upgrading, and our petrochemical parks and the majority of petrochemical enterprises are the personal experiences and promoters of this development and transformation, not only making important contributions to this development and transformation. and will be recorded in the history of the high-quality development of the petrochemical industry.

Third, Yangpu Economic Development Zone and Ningbo Petrochemical Base are two important bases for the high-quality development of China's petrochemical industry. Ningbo Petrochemical Base is one of the "seven petrochemical bases" planned by the State Council, with the largest scale and the best coordination of industrial chain among the domestic refining and chemical integration bases at present. It is not only a national demonstration base for new industrialization and a pilot park for circular transformation, but also a national green park and intelligent chemical park, with standardized management and high overall competitiveness, and is moving forward to a world-class petrochemical base. Yangpu Economic Development Zone is not only located in the main producing area rich in oil and gas resources in the South China Sea, but also has formed a petrochemical base with tens of millions of tons of oil refining, millions of tons of ethylene and the integration of polyester and new materials with an output value of more than 100 billion yuan. In particular, since Sinopec Hainan Refining and Chemical Co., Ltd. newly built a million-ton ethylene plant was put into operation last year, Yangpu Economic Development Zone has become more prominent in strengthening the raw material advantages of new petrochemical materials and the basic conditions of extending the complementary chain and strong chain. it is strengthening innovation and speeding up the transformation of the world-class chemical park.

In fact, Yangpu and Ningbo are key new material bases for Sinopec, CNOOC, Wanhua Chemical, Jingbo Petrochemical, and other large backbone enterprises, and both have coastal geographical advantages. Yangpu also has many policy advantages of free trade ports and top domestic academicians, with Academician Wang Jiming leading academician workstations composed of many academicians. Ningbo and Yangpu have a good foundation, many commonalities and their respective special advantages for the development of petrochemical industry, which is an important support for the high-quality development of China's petrochemical industry and an outpost and demonstration highland for our country to achieve the goal of petrochemical power. The development goal and deployment of cultivating five world-class petrochemical industry clusters put forward in the 14th five-year Plan. Ningbo is one of the two main bodies of Hangzhou Bay world-class petrochemical industry clusters. Yangpu is an important pole of the world-class petrochemical industry cluster in the Pan-Great Bay area, especially the special policy advantages of Yangpu Free Trade Port and the location advantages of Southeast Asia and the new land-sea-west channel. Will become a unique advantage and important support for building a world-class petrochemical industry cluster. The coordinated development of Yangpu and Ningbo petrochemical industry will certainly open a new journey of collaborative innovation, complementary advantages, differentiation and high-end development of China's petrochemical industry. Ningbo and Yangpu petrochemical bases support and develop in coordination with each other. China's coastal petrochemical industry will form a world-class petrochemical industry cluster with interlinked, chain-linked and internationally competitive as a whole. This will have an important and far-reaching impact on the industrial coordination, low-carbon transformation and high-quality development of many petrochemical parks in China.

Dear guests and friends, we sincerely hope that Ningbo will open its arms and Yangpu will create all conditions to realize in-depth cooperation and industrial chain synergy between Ningbo and Yangpu petrochemical industries, achieve win-win results through cooperation and collaboration, and work together towards high-quality development through cooperation and collaboration.

The Petrochemical Federation will, as always, serve the innovative development and green and low-carbon transformation of the two major petrochemical bases in Ningbo and Yangpu, and promote Ningbo and Yangpu to make Ningbo and Yangpu's new contribution to achieving the goal of a petrochemical power and Chinese-style modernization through cooperation and collaboration. I wish all entrepreneurs and friends a fruitful day! I also hope that today's promotion meeting will be an opportunity to achieve fruitful results in cooperation and collaboration between Ningbo and Yangpu in the days to come! Source: China Petroleum and Chemical Industry Federation