To implement the guiding principles of the Central Economic Work Conference and promote the stable operation, structural optimization and upgrading of the petrochemical and chemical industry, seven ministries and institutions, including the Ministry of Industry and Information Technology, the Ministry of Ecology and Environment, the Ministry of Emergency Management, the People′s Bank of China, the State Administration for Market Regulation, the National Financial Regulatory Administration, and the All-China Federation of Supply and Marketing Cooperatives, have recently jointly issued the "Work Plan for Stabilizing Growth in the Petrochemical and Chemical Industry (2025-2026)" (hereinafter referred to as the "Work Plan").

The Work Plan proposes that during 2025-2026, the added value of the petrochemical and chemical industry will grow at an average annual rate of more than 5%. Meanwhile, the economic benefits of the industry will stabilize and rebound; the industrial scientific and technological innovation capacity will be significantly enhanced; the level of refined product extension, digital empowerment and intrinsic safety will be continuously improved; the synergistic effects of pollution reduction and carbon emission reduction will be remarkable; and chemical industrial parks will move from standardized construction to high-quality development. Specifically, the Work Plan puts forward five key tasks:

a.Strengthen industrial scientific and technological innovation: Support the research and development of key products such as electronic chemicals and high-end polyolefins; promote the quality improvement and upgrading of bulk products with comparative advantages like coatings; ensure the stable production and supply of chemical fertilizers; optimize the management of pilot projects; and accelerate the transformation and application of scientific and technological achievements.

b.Expand effective investment: Strictly control the increase of new oil refining capacity; regulate the launch pace of new ethylene and paraxylene capacities; prevent the risk of overcapacity in the coal-to-methanol industry; step up efforts to promote the upgrading and transformation of old installations; implement the "Artificial Intelligence+ Petrochemical and Chemical Industry" initiative; and accelerate the formulation and revision of standards related to high-end trend, green development and digitalization.


c.Expand market demand: Tap the consumption potential in traditional fields such as construction and automobiles; foster application scenarios in emerging fields including new energy and low-altitude economy; and promote the integrated development of domestic and foreign trade.

d.Strengthen development carriers: Organize the hierarchical evaluation of the competitiveness and intelligent level of chemical industrial parks; guide chemical industrial parks to carry out transformation and upgrading in line with benchmarks; promote chemical industrial parks to focus on the leading industries to strengthen, supplement and extend the industrial chain; and cultivate a number of advanced manufacturing clusters, characteristic industrial clusters of small and medium-sized companies and leading enterprises.


e.Deepen opening-up and cooperation: Implement policies and measures to stabilize foreign trade; steadily advance joint ventures and cooperation in the development and utilization of overseas resources such as oil, gas and potassium; actively explore emerging markets; strengthen service guarantees for foreign-funded projects; enhance exchanges and cooperation in fields such as fine chemicals, green and low-carbon development, and artificial intelligence; and improve the standard system and product certification system in line with international standards.