The influence of relevant policies in 2008 on the petrochemical industry
December 21 11:07:08, 2022
Increasing the margin policy The policy of increasing the margin will have a direct impact on the enterprises engaged in the processing of incoming materials. Through the review of the companies, if the company can complete the verification within 3 months, it will increase the financial cost of the company by 4%.
Strict environmental regulations The increasingly stringent environmental regulations will have an impact on the application of petrochemical products in the future, such as the EU REACH that came into force in June 2007. For the country, environmental protection requirements have been further enhanced and it has already played a role in the chemical industry. The policy of reducing emissions and prohibiting emissions in the river basin area has caused some enterprises with serious pollution and low technological levels to be gradually shut down, and chemical production enterprises will be concentrated. At the same time, the recycling of waste products will further affect the demand for petrochemical products, mainly reflected in the reuse of waste plastics, recycling of recycled polyester bottles as raw materials, and the use of scrap tires as a substitute for SBS in asphalt modification.
Import tariffs are in place Since China's accession to the WTO in 2002, the tariffs on petrochemical products have been declining year by year. After the tariff of synthetic resins has dropped to 6.5% in 2008, the tariff reduction promised by China's entry will be fully in place. Although the tariff of synthetic resin dropped by 10% in 6 years, the decline rate is not large every year, so the overall impact on the domestic petrochemical market is not significant.
Austerity Financial Policy The tightened financial policy in the country will increase the financing cost of the company. Since 2005, China's manufacturing investment has basically maintained a high growth rate of more than 30%. New production capacity has been continuously formed and released. Market demand is relatively insufficient, and overcapacity of some production materials has gradually emerged. Scholars have more and more views on economic overheating. It is expected that in 2008 the government will continue to implement a tight monetary policy and loan interest rates will continue to rise. This will increase corporate financing costs and curb excessive growth in production capacity.
In addition, the appreciation of the renminbi has reduced the competitiveness of domestic products, and the Olympic Games will drive the domestic tourism market, stimulating the demand for domestic plastics and synthetic fiber products. The pulling actions include: the pulling of direct investment before the Olympics is held, and the number of tourists after the Olympics is held, and the working capital of the Olympic Games Organizing Committee is pulling GDP. In addition, the impact of the Beijing Olympic Games' investment of 10 billion yuan on foreigners in Beijing is about 40%.
Strict environmental regulations The increasingly stringent environmental regulations will have an impact on the application of petrochemical products in the future, such as the EU REACH that came into force in June 2007. For the country, environmental protection requirements have been further enhanced and it has already played a role in the chemical industry. The policy of reducing emissions and prohibiting emissions in the river basin area has caused some enterprises with serious pollution and low technological levels to be gradually shut down, and chemical production enterprises will be concentrated. At the same time, the recycling of waste products will further affect the demand for petrochemical products, mainly reflected in the reuse of waste plastics, recycling of recycled polyester bottles as raw materials, and the use of scrap tires as a substitute for SBS in asphalt modification.
Import tariffs are in place Since China's accession to the WTO in 2002, the tariffs on petrochemical products have been declining year by year. After the tariff of synthetic resins has dropped to 6.5% in 2008, the tariff reduction promised by China's entry will be fully in place. Although the tariff of synthetic resin dropped by 10% in 6 years, the decline rate is not large every year, so the overall impact on the domestic petrochemical market is not significant.
Austerity Financial Policy The tightened financial policy in the country will increase the financing cost of the company. Since 2005, China's manufacturing investment has basically maintained a high growth rate of more than 30%. New production capacity has been continuously formed and released. Market demand is relatively insufficient, and overcapacity of some production materials has gradually emerged. Scholars have more and more views on economic overheating. It is expected that in 2008 the government will continue to implement a tight monetary policy and loan interest rates will continue to rise. This will increase corporate financing costs and curb excessive growth in production capacity.
In addition, the appreciation of the renminbi has reduced the competitiveness of domestic products, and the Olympic Games will drive the domestic tourism market, stimulating the demand for domestic plastics and synthetic fiber products. The pulling actions include: the pulling of direct investment before the Olympics is held, and the number of tourists after the Olympics is held, and the working capital of the Olympic Games Organizing Committee is pulling GDP. In addition, the impact of the Beijing Olympic Games' investment of 10 billion yuan on foreigners in Beijing is about 40%.
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