Zhong Guo Hua Gong Bao·2025-10-11 01:12Core Viewpoint - The "Work Plan" for the petrochemical industry aims to stabilize growth and facilitate transformation, aligning with national economic strategies and addressing current challenges in the sector [1][2][3] Group 1: Industry Context and Challenges - The petrochemical industry is a foundational sector with significant economic volume and high industrial interconnectivity, crucial for supply chain stability and economic performance [2][3] - The industry has faced declining profit levels for three consecutive years, with a projected profit drop of 8.8% in 2024 compared to the previous year, alongside a decrease in import and export totals [2][4] - The shift from a growth-driven model focused on capacity expansion to one emphasizing efficiency and transformation is necessary due to intensified competition and reduced profitability [4][6] Group 2: Objectives and Measures of the Work Plan - The "Work Plan" emphasizes quality and efficiency, aiming for economic stabilization and recovery, with a focus on enhancing high-end supply and addressing structural weaknesses [3][4] - Key measures include scientific regulation of major project construction, controlling new refining capacity, and preventing overcapacity risks in coal-to-methanol production [4][6] Group 3: Innovation and Technological Advancement - The plan promotes the establishment of standardized management for pilot projects to enhance innovation and streamline approval processes, thereby facilitating the commercialization of research outcomes [5][6] - Specific initiatives include bundling approval processes for pilot projects and simplifying environmental assessments for projects that only change raw materials and products [5][6] Group 4: Safety and Environmental Upgrades - Upgrading existing facilities and production systems is crucial for cost reduction and enhancing safety and environmental standards, with significant potential for improvement in older installations [6][7] - The plan outlines actions for the safe upgrade of outdated facilities and encourages digital and green transformations within the industry [6][7] Group 5: Standardization and Regulatory Framework - The industry faces a growing need for a robust standardization framework to support production and governance, particularly in light of new materials and low-carbon initiatives [7][8] - The "Work Plan" sets forth requirements for developing standards related to pollution reduction, carbon footprint assessment, and digital transformation maturity [7][8]