Chinese petrochemical enterprises established a new union to enter the foreign markets

Almaty. September 20. Silkroadnews – Shanghai hosted  China International Petrochemical Conference 2016, «Xinhua» agency reports.

«The domestic petrochemical enterprises established a new alliance in the field of international co-operation in production facilities to facilitate their entry to the foreign markets», the publication says.

According to Li Shousheng, Chairman of China Petroleum and Chemical Industry Federation, with the globalization deepening in the petrochemical industry, the industry's major trends become the elimination of barriers, inclusive development, mutual cooperation and win-win progress.

The Federation representatives said, China is the major market for the global petrochemical products, with this it also demonstrates a great potential for growth and development. At the same time, the Chinese enterprises are constantly increasing their production capacities abroad and speed up the steps to develop the foreign markets.

The new alliance is reported to include such companies as Sinopec, ChemChina and Sinochem.