4 month 28 Held in Nanning, Guangxi on the day of… 2026 At the Petrochemical Industry Development Conference, the “15th Five-Year Plan” Development Guidelines for the Petroleum and Chemical Industries were officially released. Ling Yiqun, a member of the Party Committee and vice president of the China Petroleum and Chemical Industry Federation, pointed out that, amid a landscape characterized by both strategic opportunities and risks and challenges, the petrochemical sector still has ample room for growth and significant potential to deliver.

The Guidelines state that during the 14th Five-Year Plan period, China’s petrochemical industry will continue to expand in scale, see ongoing optimization of its industrial structure, experience steady enhancement of innovation capacity, accelerate green and low-carbon development across the board, significantly strengthen safety guarantees, consolidate the foundation for international cooperation, begin to demonstrate tangible results in digital transformation, and see sustained improvements in quality and standardization capabilities. Nevertheless, four major challenges remain: first, the sector exhibits a high degree of external resource dependence, with import reliance exceeding — for crude oil, natural gas, and potash fertilizer, respectively. 70%、40%、50% Second, structural imbalances are pronounced: the market for traditional products suffers from a supply-demand mismatch and inadequate profitability, with the industry-wide revenue profit margin standing at only… 4.5% Third, there is a lack of original innovation capability, with R&D expenditure accounting for only 1.5% First, basic and cutting-edge research remains inadequate; second, the task of green transformation is daunting, with energy consumption, pollutant emissions, and total carbon emissions ranking among the highest in the industrial sector, posing a severe challenge to energy conservation, pollution reduction, and carbon mitigation.

In response, the Guidelines outline five strategic directions: First, balance overall volume with efficiency, achieving both qualitative improvements and reasonable quantitative growth, shifting from mere scale expansion to enhanced profitability. Second, align production with consumption, bolstering the supply of high-end and green products while expanding their application domains. Third, integrate traditional and emerging sectors by upgrading and transforming existing facilities and plants, while fostering and developing new forms of productive forces. Fourth, harmonize development with security, helping enterprises across different ownership structures strengthen, optimize, and grow, thereby building autonomous and controllable industrial and supply chains. Fifth, coordinate domestic and international efforts by establishing a unified national petrochemical market, pursuing high‑quality “attracting investment” and high‑level “going global.”

The Guidelines, focusing on aspects such as overall scale, structural adjustment, technological innovation, green and safe development, intelligent manufacturing, enterprise cultivation, and park upgrading, put forward… 2030 It sets out specific development goals for the year and outlines eight key tasks: enhancing energy and resource security, advancing structural adjustments in traditional industries, strengthening scientific and technological innovation, promoting safe, green, and low-carbon development, accelerating digital transformation and intelligent empowerment, speeding up the development of emerging and future industries, comprehensively boosting the competitiveness of industrial parks and enterprises, and continuously advancing high-level international cooperation.

The Guidelines state that, 2035 By [year], China will have fully transitioned from a major petrochemical producer to a global leader in the sector. Specifically: first, capacity utilization will continue to rise, and structural imbalances will be effectively alleviated; second, product quality, variety, and mix will consistently meet market demand; third, efficiency, profitability, and key techno‑economic indicators will keep improving, with competitiveness ranking among the world’s highest; fourth, efforts to conserve energy, reduce emissions, and cut carbon footprints will accelerate, placing China at the forefront of green development globally; fifth, a number of pivotal technologies that set global trends in petrochemical innovation will be mastered; sixth, a range of high‑end products urgently needed by downstream manufacturing sectors will be developed; seventh, clusters of internationally competitive industries, industrial parks, and enterprises will take shape; and eighth, a cohort of ultra‑efficient enterprises and zero‑carbon factories will be established.

(Source: China Chemical Industry News) 2026-04-28 )