Shanghai GYIE becomes one of the founding members of the “Going Global Confederation”

  • Oct 14,2016
  • From:GYIE
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. 
GYIE witnessed the launching of the Federation as one founding unit 
China’s petroleum and chemical industry has gone through over 60 years’ extensive development and has been qualified to go global and invest overseas, as most the enterprises desire to “going-global” which has become the trend of the times. In order to further advance the global development of China petroleum and chemical industry and better collaborate with the Chinese government’s “Belt and Road Initiative”, and under which the Going Global Confederation of China Petroleum and Chemical Industry was launched. 
Founding Background 
China petroleum and chemical industry carry out the “Belt and Road Initiative” to speed up the international production cooperation. 
The going-out of China petrochemical enterprises face the challenges of insufficient overseas investment and acquisition experiences, impeded information channels, and insufficient understanding of and communication with the host countries, limited financing capacity, low risk prevention capacity, etc. 
The Going Global Confederation of China Petroleum and Chemical Industry was founded by China Petroleum and Chemical Industry Federation and other united industry leading enterprises under the guidance of National Development and Reform Commission. 
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 NDRC’s official approval in September. September 14th, Shanghai GYIE and other founding units representatives jointly launched the Confederation at the China Petroleum and Chemical International Conference site. 
Chairman of GYIE, Ding Mingde, participates in the launching ceremony with other participants 
Build the new platform for international production cooperation 
It is said that, the Going Global Confederation is expected to become the unified platform for the release 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, with the principle of mutual discussion, mutual building and win-win and being oriented by enterprise demands with the outlook to build a new cooperation platform for international production cooperation and to create the new opening-up pattern 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. 
Key tasks 
Policy communication: to release the State’s relative policies and measures, and dock with bilateral, changeable government production cooperation mechanism 
Information Sharing: to provide financial policy information including industry demands, investment policies, labor regulations, tax and financial policies, etc. of key countries 
Industrial coordination: to coordinate the enterprises in experience and resource sharing, and jointly going-out 
Integration of industry and finance: to build linkage mechanism with financial institutes, promote the establishment of the fund for the petrochemical enterprises’ going-out 
Risk prevention: to regulate the enterprises’ both domestic and overseas operations, prevent enterprises from foreign cooperation. 
The deputy secretary-general of China Petroleum and Chemical Industry Federation, and also director of the International Cooperation Department, Pang Guanglian, said that, in the future, the Federation would focus on the technology import and industry acquisition on specialty chemicals and fine chemicals, etc. in Europe, USA and Japan, and also would 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”. 
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