The Central Economic Work Conference was held in Beijing from December 8th to 10th, and set the main tone for next year's economic work, that is, "Stability is the priority and steady progress is sought." There are two differences between this year's Central Economic Work Conference and previous years: First, it was held earlier. This shows that the Party Central Committee’s early prediction of the economic situation and economic work-there are positive factors in predicting the economic work next year, but the environment is more complex, the challenges are more severe, and the downward pressure is greater. Therefore, this year’s early convening not only reflects the central government’s great attention to the overall situation of economic work, but also reflects early research, early deployment, and early implementation. The second is that this year's economic work will have spirit, deployment, and clear goals and precise requirements.

In terms of the petrochemical industry, one of the most concerned new decisions in the industry is that "new renewable energy and raw material energy will not be included in the total energy consumption control". This is the appeal of the majority of petrochemical companies, chemical parks and petrochemical federations for many years. . As a basic industry and an important pillar industry that uses fossil resources as raw materials to produce chemicals and new materials, the petroleum, natural gas, and coal consumed by the petrochemical industry are different from those used for boiler burning and power generation, and most of them have been transformed into the national economy. The missing products are not burned as fuel, so they are not converted into carbon dioxide emissions. Therefore, the distinction between raw coal and fuel coal is scientifically and rigorously, and the practice of "energy consumption of raw materials is not included in the total energy consumption" is scientific and truth-seeking. This will not only make room for the scientific development of the petrochemical industry, but will also avoid a “one size fits all” regulation in some places.

Of course, given the nature of petrochemical's basic industries and resource-based industries, we cannot simply think that this is an opportunity for the development of the industry, nor can we simply think that "coal chemical industry is about to take off again." We must have this understanding and stay sober: new decisions are indeed opportunities and benefits for healthy and sustainable development for new chemical materials, high-performance composite materials, and high-end chemicals; but for products with high energy consumption and high emissions, Especially for the bulk of basic chemicals with overcapacity, new construction and expansion must be resolutely prohibited. In accordance with the requirements of the "Notice on Energy Efficiency Benchmarking and Benchmarking Levels in Key Fields of High Energy-Consuming Industries (2021 Edition)", outdated technologies and production capacities whose energy efficiency does not reach the benchmark level above the benchmark level will be given certain transformations under the premise of ensuring the safety of the industrial chain During the upgrade transition period, those that are still not above the benchmark level must be resolutely eliminated.

Regarding this year's Central Economic Work Conference, another formulation that the industry is generally concerned about is the transition from "dual control" of energy consumption to "dual control" of total carbon emissions and intensity. This reflects the Party Central Committee’s precise policy on economic work.

The past "dual control" of energy consumption, that is, "dual control of total energy consumption and intensity of consumption", was not scientific or rigorous enough.

One is that for petrochemical companies, most of the crude oil consumed by refining companies and most of the coal consumed by coal chemical companies have become petrochemical products and products such as fertilizers, coal-based olefins, and coal-based ethylene glycol, and have not been burned. Drain, discharge. In the past, the general control of the total energy consumption has restricted the construction of new devices for many advanced enterprises. Many good new projects, especially new chemical materials and fine chemical projects, are not approved or built because there are no energy consumption indicators, which directly restricts the development of a large number of advanced and high-end new projects and new products, and optimizes and transforms the petrochemical industry structure. Upgrades are therefore restricted.

Second, there was a more serious problem in the past: some companies in the chemical park purchased steam and purchased electricity, all of which had to be converted into the energy consumption index of the company; while the central heating company in the park had already calculated the energy consumption. The power supply company that purchased the electricity has also calculated the energy consumption. The general "control of total energy consumption" has caused double calculations of energy in some areas, which is not accurate enough.

This economic work will clarify the transition from "dual control" of energy consumption to "dual control" of carbon emissions, which is the deepening and specificity of the "Opinions of the Central Committee of the Communist Party of China and the State Council on the Complete, Accurate and Comprehensive Implementation of the New Development Concept to Do a Good Job in Carbon Peak and Carbon Neutrality" This will change the past practices of general estimation and simple decision-making, and will more accurately support and promote the high-quality development of enterprises and the national economy.

Learning from the spirit of this year’s economic work conference, we feel that the strategic goal of "doubling the total economic output or per capita income by 2035" proposed by the Party Central Committee can be achieved! With the precise guidance of this Central Economic Work Conference, we are more confident about it!

Post time: Jan-05-2022