China's Strategic Drive in Petrochemical Industry

China's industry ministry has released a strategic plan to stabilize and grow the petrochemical and chemical industry by achieving over 5% average annual growth from 2025 to 2026. The plan aims to control new refining, regulate ethylene and paraxylene production, and prevent overcapacity in coal-to-methanol processing.

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.

(With inputs from agencies.)