On April 20, this newspaper learned from the China Petroleum and Petrochemical Association that new regulations aimed at revitalizing the petrochemical industry are expected to be officially announced soon. These rules are anticipated to bring significant changes to the sector, focusing on structural adjustments, enhanced policy support, and a stronger emphasis on high-end production.
The detailed measures include ten key initiatives such as the purchase and storage of refined oil, reform of consumption tax, anti-dumping and anti-smuggling actions, and support for overseas development. However, some previously mentioned specifics, like special revenue payment thresholds, were not included in the final version. The structural adjustment guidelines only provide a general direction without specifying which products will receive policy support.
According to insiders who have reviewed the document, the latest version has removed some numerical details compared to earlier drafts. While it offers more comprehensive planning than the six policies announced in February, additional supporting measures are still under development.
From "big" to "strong" is a central theme of these regulations. The petrochemical industry, which accounts for approximately 5% of China's GDP, covers a wide range of sub-sectors including inorganic chemicals, synthetic fibers, fertilizers, and pesticides. Despite its size, the industry faces serious structural challenges, with an over-supply of low-end products and a lack of high-end output.
Currently, the self-sufficiency rate for ethylene-based products is around 50%, failing to meet industrial demand. Low-end products like calcium carbide, coke, caustic soda, and methanol are experiencing severe overcapacity. To address this, the regulations encourage investment in high-end products, with a state-supported list of priority projects being developed. This list will guide the NDRC in project approvals, significantly increasing the chances for listed items.
Mergers and acquisitions by major enterprises are also encouraged to optimize resource allocation and enhance competitiveness. Additionally, the rules aim to improve industrial policies, product standards, and access barriers.
Another key focus is the elimination of outdated production capacities, which is seen as essential for raising overall industry value. The regulations also support overseas expansion through special funds for mineral exploration and direct financial injections into international projects.
In terms of pricing reforms, the government has already implemented changes in fuel and fertilizer prices. The refined oil price and tax reform allows for more flexible pricing, while the consumption tax is now collected at the wholesale level. Analysts believe this move increases transparency and reduces confusion for consumers.
The rules also outline plans for expanding refined oil reserves, aiming for 3 million tons in 2009, 6 million in 2010, and 10 million by the end of the "Eleventh Five-Year Plan." Temporary storage solutions involving major oil companies and private enterprises may be used before new reserve bases are built.
Small and medium enterprises (SMEs) are also expected to benefit from the revitalization plan. Although many of the initial projects are led by large state-owned firms, smaller projects approved by the National Development and Reform Commission can enjoy preferential credit policies, such as a 6% discount.
Overall, the detailed rules cover a wide range of areas, including increasing fertilizer reserves, improving oil pricing mechanisms, supporting technological upgrades, encouraging mergers, and enhancing fair tax policies. Each department has been assigned specific responsibilities, with clear implementation timelines for various measures.
Wood Grain Steel
Wood Grain Steel is a type of steel that has been coated with a layer of wood grain pattern, giving it the appearance of natural wood. This coating not only provides a decorative finish but also offers excellent durability and weather resistance. Wood Grain Steel is available in different types, each with its own unique characteristics and applications.
Types of Wood Grain Steel
1. Powder Coated Wood Grain Steel: Powder coated wood grain steel is coated with a layer of powder paint that is then baked onto the steel. This type of Wood Grain Steel is highly durable and resistant to weather and corrosion. It is commonly used in the production of building materials, such as roofing and wall cladding systems.
2. PVC Film Laminated Wood Grain Steel: PVC film laminated wood grain steel is coated with a layer of PVC film that has a wood grain pattern printed on it. This type of Wood Grain Steel is highly durable and resistant to weather and corrosion. It is commonly used in the production of furniture, kitchen cabinets, and interior decoration.
3. PET Film Laminated Wood Grain Steel: PET film laminated wood grain steel is coated with a layer of PET film that has a wood grain pattern printed on it. This type of Wood Grain Steel is highly durable and scratch-resistant. It is commonly used in the production of electronic devices, such as laptops and smartphones.
Characteristics and Applications of Wood Grain Steel
1. Durable: Wood Grain Steel is highly durable and resistant to weather, corrosion, and scratches. This makes it an ideal material for outdoor applications, such as building materials and outdoor furniture.
2. Decorative: Wood Grain Steel provides a decorative finish that mimics the appearance of natural wood. This makes it an ideal material for interior decoration, such as kitchen cabinets and furniture.
3. Cost-Effective: Wood Grain Steel is a cost-effective alternative to natural wood. It provides the same decorative finish as natural wood but is more durable and requires less maintenance.
4. Environmentally Friendly: Wood Grain Steel is an environmentally friendly alternative to natural wood. It requires less energy to produce than natural wood and does not contribute to deforestation.
Wood Grain Steel is widely used in a variety of applications, including building materials, furniture, and electronics. Its durability, decorative finish, cost-effectiveness, and environmental friendliness make it an ideal material for these applications. Whether you're designing a new home or looking to upgrade your electronic devices, Wood Grain Steel is a versatile and reliable choice.
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