The report is divided into three parts.

Part I: Economic performance of the chemical industry

Ms. Wang outlined the economic performance of the petrochemical industry. China's oil and natural gas output increased, while its external oil dependence declined. China's crude oil consumption rose gradually, ranking second globally. Refining and ethylene capacity ranked first in the world. Production of chemical products continued to grow, and apparent consumption of chemical products also increased. Looking back at 2025, four key trends emerged: value reconstruction shifting from tonnage to quality, "reducing oil while increasing chemicals" becoming a necessity, refined investment replacing scale investment, and China's market serving as the global growth hub and innovation application base. Looking ahead to 2026, enterprises need to further pursue innovation-driven development, green and low-carbon transformation, and digital empowerment.

Part II: Policy orientation and development trends during the 15th Five-Year Plan Period  

The industry currently faces key priorities such as industrial upgrading and structural reshaping, comprehensive green and low-carbon transformation, and high-level opening up. The government is promoting increased oil and gas reserves and production, coal-to-oil and gas reserves, and stable fertilizer prices and supply, while advancing breakthroughs in key materials and major equipment, as well as frontier developments in biomanufacturing. It is also guiding the industry to optimize the foreign investment environment, facilitate cross-border industrial chain layout, and align with international rules and standards.

Part III: Strategies for overseas expansion during the 15th Five-Year Plan period

Ms. Wang noted that accurately grasping the evolution of the international landscape is the foundation for overseas expansion during the 15th Five-Year Plan period. The global economy is facing three major restructurings: shifts in trade, changes in demographic structure, and artificial intelligence. The global industrial chain is becoming more complex and diversified, with the manufacturing landscape accelerating its transformation. Enterprises need to align with national strategies and adhere to principles such as diversified collaboration.