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China's petrochemical industry has increased its international appeal

“China is changing very fast, and we need to be part of it. Whether it is to develop China's domestic business or to cooperate with Chinese energy companies to develop international business, we are very optimistic.”

Statistics show that as of the end of 2018, China’s foreign-invested enterprises have reached 960,000, and the actual use of foreign capital exceeds 2 trillion US dollars. Although the number is less than 3% of the total number of Chinese enterprises, it contributes 10% of China’s employment and 20% of tax revenue, and 50% of exports.

"Foreign investment plays a decisive role in achieving high-quality growth and high-level opening to the Chinese economy." Recently, Pang Guanglian, secretary-general of the China National Petrochemical Union International Capacity Cooperation Enterprise Alliance, concluded at the "Petrochemical Industry Development Conference".

As China encourages the further liberalization of foreign investment policies, the high-profile Foreign Investment Law was passed by the two sessions this year and will be implemented on January 1, 2020. Recently, many industry insiders said in an interview that as a basic law in the field of foreign investment, the implementation of the Foreign Investment Law means that China will usher in the most relaxed era of foreign investment, and the petrochemical industry is no exception.

The business environment of foreign capital continues to improve

In the past two years, the Chinese government has intensively introduced a number of policies, and through continuous improvement of the foreign investment legal system, it provides institutional guarantees for expanding opening up and actively utilizing foreign capital.

In June 2018, the “Special Management Measures for Foreign Investment Access (Negative List) (2018 Edition)” issued by the National Development and Reform Commission and the Ministry of Commerce drastically reduced foreign investment restrictions. At this point, the policy barriers for foreign chain gas stations were completely eliminated. In December of the same year, the "Negative List of Market Access (2018 Edition)" was released, and the "involuntary entry" of investment in areas other than the list was realized. All market entities could enter under the law.

In March of this year, the new "Encourage Foreign Investment Industrial Catalogue" was drafted for public comment. According to reports, in the new catalogue, more than 400 small items in 13 categories including manufacturing, chemical fiber, rubber and plastics are listed as the national catalogue for encouraging foreign investment, including 21 chemical raw materials and chemical products manufacturing. "These fields may attract foreign investors' willingness to invest in China. Once the new catalogue is released, it will mean that China has opened its doors to foreign-invested enterprises entering China's chemical manufacturing industry," said Pang Guanglian.

According to Zhao Weiliang, Chairman of Total (China) Investment Co., Ltd., the Foreign Investment Law has been China's reform and opening up for more than 40 years. The Chinese government has been more active in creating a more standardized and fair benevolent competitive environment for foreign-invested enterprises and promoting a comprehensive Another important example of opening up a new pattern.

According to Pang Guanglian, in the ranking of the global business environment, China's ranking has continued to rise in the past three years, ranking 46th in the world in 2018. Among them, they ranked 28th in terms of starting a business and ranked 6th in terms of executing contracts. China is also the only country in East Asia and the Pacific to enter the “Top Ten Best Reformers” in the 2019 Business Environment Report.

Foreign capital will play a role in industry demonstration and leadership

In the interview, Liu Maoshu believes that China's increasingly open foreign-invested business environment will help foreign-funded energy companies to further develop their industry demonstration and leading role, and introduce new investment operation models, product standards and advanced intelligent manufacturing concepts. China's petrochemical industry will inject new development vitality, and it will also promote the domestic petrochemical industry to shape a new market structure and operational logic, and then form a competitive landscape of the entire industry chain.

“As a product supplier for the entire oil and gas industry chain and one of the first international energy companies to enter China, Total has been actively participating in the entire industry chain of China's energy industry for the past 40 years. Looking forward to the future, I believe in this more Total will gain more opportunities for an open environment. We are full of confidence in China's economic development and a firmer commitment to the Chinese market," said Zhao Weiliang.

As a leading global provider of specialty materials and chemical process technology, industrial control technology and IoT solutions, Honeywell has been expanding its business in China since 1935, and its four business groups are now located in China. The Asia Pacific headquarters is located in Shanghai. Liu Maoshu also told reporters: "In the future, we will continue to deepen the innovation and development of environmental technology, promote extensive cooperation with Chinese companies, and provide tailor-made advanced environmental technologies, products and solutions."
The elimination of policy barriers for foreign-funded gas stations in China and the recent optimization of the foreign investment environment have directly spawned BP's investment decisions in the construction of thousands of gas stations in China.

Recently, BP Global CEO Dai Deli pointed out in an interview: "In the past, BP has been developing business in China in a cooperative manner. China's "Foreign Investment Law" and the new round of reforms promoted by China's oil and gas industry have enabled us to Independently developing retail territory in China. The first tangible result is to directly help us implement the investment strategy of adding 1,000 retail gas stations in China, and expand the charging business of gas stations. BP has accumulated very good experience. ”

"China's changes are very fast, and we need to be part of it. Whether it is to open up China's domestic business or to cooperate with Chinese energy companies to develop international business, we are very optimistic." Dai Deli said.
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