First China petrochemical private enterprise conference held in Tianjin

The first China petrochemical private enterprise conference that is jointly held by the China Petroleum and Chemical Industry Federation and the Tianjin government, will be held in Tianjin from October 16th to 18th, said the federation on Sunday.

State-owned enterprises and private enterprises in the petrochemical industry will engage in open dialogue and exchange views on the opportunities and challenges of establishing a modern petrochemical industry system in the country. The first analysis report on the specialized and innovative enterprises in the petrochemical industry will also be released during the conference, guiding more private enterprises to pursue a specialized and innovative development path, it said during a press release held in Beijing.

According to the federation, the private economy has become the main force of the petroleum and chemical industry in China, with the non-public economy accounting for more than 60 percent of the total amount of China's petrochemical industry.

The number of private enterprises accounted for 90 percent of the enterprises above the scale of the industry, of which the number of private oil refining enterprises accounted for 60 percent. Capacity of chemical downstream, including pesticides, fertilizers, coatings and other fine chemicals account for more than 80 percent in number and capacity, it said.