September 2016, the China Petroleum and Chemical Industry Federation has been officially approved by the National Development and Reform Commission to establish the “Going Global Confederation of China Petroleum and Chemical Industry”. On 14th September, the “Going Global Confederation of China Petroleum and Chemical Industry” was officially formed at the agenda of 2016 7th China Petroleum and Chemical International Conference, and GYIE became one of the founding members of the Going Global Confederation as one of the few domestic bulk commodity e-commerce platforms. China’s petroleum and chemical industry has gone through over 60 years’ extensive development relying on natural resources, costs and investments, and has made China become one major petroleum and chemical industry country in the world, and has been qualified to go global and invest overseas by relying on its reserves in product, technology, talent, equipment and management, etc. as “going-global” has becoming the trend of the times.
Chairman of GYIE, Ding Mingde, At the Launching Ceremony
The Going Global Confederation is expected to become the unified platform for the releasing of the country’s relative policies and measures, the recommendation of project cooperation information, the regularization of enterprises’ overseas operations, the prevention of enterprises’ foreign cooperation risks, and the promotion of the petroleum and chemical industry’s joint going-out. The Confederation was jointly launched by Shanghai GYIE and over 70 leading enterprises in China’s petroleum and chemical industry including PetroChina, Sinopec, China National Offshore Oil Corporation (CNOOC), Shenhua Group, Sinochem Corporation, ChemChina, China National Chemical Engineering Group Corporation (CNCEC), Yanchang Petroleum, Yantai Wanhua, Tianjin Bohai Chemical Industry Group (BCIC), Shanghai Huayi Group, Shandong LUXI Group, etc. with the principle of mutual discussion, mutual building and win-win and being oriented by enterprise demands, and with its main work concentrating on strategic and policy research, information and network sharing, the integration of industry and finance, industry coordination and risk prevention, etc., so as to further promote the global development of China petroleum and chemical industry and follow the Chinese government’s “One Belt and One Road” strategy.
The director of the international cooperation department and deputy secretary-general of China Petroleum and Chemical Industry Federation, Pang Guanglian, said that, in the future, the Federation will focus on the technology import and industry acquisition on specialty chemicals and fine chemicals, etc. in Europe, USA and Japan, and will promote the construction of China petrochemical industrial parks in countries like Parkistan, Vietnam and Iron, etc. and the output of China petrochemical industry standards, and also the strategic subject research on “going-out”.
“The Federation will build three major guarantee systems including information network construction, financial supporting system and human resources system, etc., in which the financial supporting system will cover policy banks and funds, special industry fund, and insurance, etc. After the founding, the Federation will earnestly implement the major projects including a batch of petrochemical demonstration projects relying on the China overseas petrochemical parks and economic and trade cooperation zone. We pursue larger early harvests so that the host countries can benefits a lot.” said Pang Guanglian.
In August, the State Council released the Guidance on Structural Adjustment, Transformation Promotion and Efficiency Enhancement of Petroleum and Chemical Industry, which points out that the state will strive to resolve the overcapacity, facilitate the merger and reorganization of enterprises, reform and upgrade the traditional industries, overally plan and optimize industrial layout, and strengthen international capacity cooperation, etc. In the international capacity cooperation, China will positively facilitate the cooperation in oil refining, olefins, methyl alcohol, tyre, chemical fertilizer and farm chemical, etc. through following the “One Belt and One Road” strategy and constructing overseas petrochemical industrial parks. The state encourages overseas capital to participate in the merger and reorganization of the domestic enterprises, supports the domestic large-scale petrochemical enterprises to operate transnational business with sound risk prevention plans.