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Li Yongwu pointed out in the opening speech of the conference that the petrochemical industry on both sides of the strait has developed rapidly in the past 30 years. As of 2006, the total capacity of ethylene production across the Taiwan Strait has exceeded 11 million tons, which occupies an important position both in Asia and the world's major petrochemical industry. Since 2006, the mainland’s economic and social development has entered the 11th Five-Year Plan, and petrochemicals will enter a period of faster development. With the commencement of a batch of 800,000 to 1 million tons of new-build and expansion projects for ethylene, the development of the mainland's petrochemical industry will be further improved in terms of technical level, scale structure and variety quality, and the overall level of integration will be a new level. However, there are many restrictive factors in the development of the petrochemical industry in the mainland. The degree of dependence on petroleum resources is increasing. The pressure on energy consumption and environmental protection is increasing, and the development of production is difficult to meet the increase in market demand. Therefore, expanding exchanges between the two sides of the Taiwan Strait and international counterparts and continuously learning and drawing on new experiences will be the unswerving guideline for the development of China's petrochemical industry.
According to reports, the cross-strait petrochemical trade has continued to grow in recent years. By 2006, among the total imports of petrochemical products from the mainland, Taiwan’s products had risen to fourth place, reaching US$ 13.7 billion, accounting for 12.1% of China’s total petrochemical imports.
Zhou Xinhuai, director of the Taiwan Petrochemical Industry Association, believes that the growing demand for petrochemical products in the mainland has provided a broad space for the development of petrochemical industry in Taiwan. At present, Taiwan’s petrochemical products account for two-thirds of its total sales in the mainland. In addition to investing in the mainland, investment in the third place is also an important part of the petrochemical industry in Taiwan. Since the mainland is relatively advanced in terms of refining technology and equipment, and Taiwan's downstream industrial chain such as PE, PP, PS, PVC, and ABS are well developed, Zhou Xinhuai said that the cooperation between the two sides in the petrochemical industry is highly complementary and is developing. In the Middle East market, companies on both sides of the Strait can use the advantages of joint ventures and cooperation to win more opportunities.
The conference will exchange views on the development trends of petrochemical industries across the Straits, the impact of the development of petrochemical industry in the Middle East on Asia and the world, the upgrading of atmospheric environmental quality and oil product standards, the research and development of three major synthetic materials, and the promotion of the HSE system. It is understood that this meeting was held in Tianjin, taking into account the important position of Tianjin in the Bohai Economic Circle of the mainland, and Tianjin has been listed as an important area for the development of the mainland's petrochemical development strategy. Representatives from Taiwan also hope to use this opportunity to understand Tianjin and find more investment opportunities.
Strengthening the cooperation between the two sides of the petrochemical industry is an unswerving policy
On August 15, 2007, the symposium on petrochemical across the Taiwan Strait was held in Tianjin. Li Yongwu, president of the China Petroleum and Chemical Industry Association, said at the meeting that strengthening the exchanges and cooperation between the two sides of the Taiwan Strait in the petrochemical industry is the firm policy of the mainland.