China's Strategic Drive in Petrochemical Industry

China's industry ministry has unveiled an ambitious plan aiming to stabilize and drive growth within its petrochemical and chemical sectors. The initiative seeks to achieve more than 5% average annual growth in industry value added between 2025 and 2026.

Part of the strategy involves stringent control over the expansion of new refining capacities, with a particular focus on regulating the pace of new ethylene and paraxylene capacity developments.

Additionally, the ministry is prioritizing the prevention of overcapacity risks in the coal-to-methanol industry, highlighting a comprehensive approach to sustainable industrial development.