The global economy continues its modest recovery in 2016 amid the volatility in the financial market as of a long list of “black swan” events such as Britain's exit from the EU, the United States presidential election and the Italian referendum. Crude oil market saw a substantial increase after OPEC and non-OPEC countries reached a preliminary agreement to freeze oil output on November 30. For China domestic, the real estate market cooled under the property market regulation; the commodity market went into upturn owing to the impact from the supply side reform; Chinese yuan depreciated noticeably against the US dollar under the influence of Fed's interest rate increase. In 2017, the global market is still faced with uncertainty from new US president, the Brexit negotiation, Italian general election, implementation of the oil production freeze and possible depreciation of Chinese yuan...

For the polyester industry chain, PTA producers still faced the challenge of industry reshuffle and the oligopoly operations reduced; MEG supply remained tight throughout the year and the market rallied in the fourth quarter; Higher cost brought new opportunities for the development of polyester and downstream sector and the inventory was digested evidently. In 2017, what's the new changes expected in China's polyester industry? Will the restart of some PTA units increase the industry reshuffle or change the monopoly market? Will the launch of MEG futures market change the market pattern or bring new operating opportunities? Will profit and demand of polyester industry keep good？Will the macro environment face new changes and bring challenges and opportunities to the industry?

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