The Ministry of Commerce held a symposium for foreign companies in chemical energy. What are the origins of the participating companies? What signal is sent?

On June 13, Chen Chunjiang, Assistant Minister of Commerce, presided over a symposium for foreign-funded enterprises in the chemical and energy industry, and listened to the enterprises' operating conditions in China, their problems and demands, and their opinions and suggestions on the continuous optimization of the business environment.

Representatives of enterprises and associations such as Exxon Mobil, AJS, Covestro, Air Products, Saudi Aramco, Dow Chemical, and International Chemical Manufacturers Association, as well as comrades from relevant departments and bureaus of the National Development and Reform Commission and the National Energy Administration attended the discussion.

Chen Chunjiang emphasized that China will unswervingly promote high-level opening up, steadily expand rules, regulations, management, standards and other institutional openings, and is willing to provide foreign-funded enterprises with a good business environment and services. Foreign-funded enterprises are welcome to seize China's economic green The development opportunities in the low-carbon transformation will continue to take root in China and achieve better development.

Representatives of foreign-funded enterprises at the meeting expressed their gratitude to the Ministry of Commerce, especially the service guarantee provided by the special class for key foreign-funded projects. Enterprises continue to be optimistic and willing to further develop the Chinese market.

Although the news is short, the signal is clear: China will unswervingly promote high-level opening up, and foreign-funded enterprises are welcome to seize development opportunities, invest in China, and take root in China. Let's sort out the basic situation of participating companies:

ExxonMobil is the largest oil and gas giant in the United States, with revenue of US$413.68 billion in 2022, a year-on-year increase of 45%; net profit of US$55.74 billion, a year-on-year increase of 142%. Currently, the ExxonMobil Huizhou Ethylene Project, which is the first major petrochemical project solely invested by an American company in China, with a total investment of about US$10 billion, is in full swing.

AJS was founded in 1907 and is headquartered in Tokyo, Japan. At first, it was to provide soda ash, the raw material for flat glass, and now it has developed into a global material supplier with core technologies such as glass and fluorine chemistry.

Covestro is one of the world's leading producers of high-quality polymers and their components. In fiscal year 2022, Covestro will generate sales of 18 billion euros. China is one of Covestro's largest markets. In 2022, China's sales will reach 3.64 billion euros, accounting for about one-fifth of the group's sales. As of the end of 2022, Covestro's total investment in China has exceeded 3.9 billion euros, and it has 10 production bases and 2 innovation hubs in Greater China.

Air Products is a world-leading industrial gases company with an 80-year history. In fiscal year 2022, the company's operating sales in 50 countries and regions reached $12.7 billion. Today, it has nearly 5,000 employees, more than 100 operating entities and more than 200 production facilities in China, and has established extensive regional capabilities to serve domestic diversified markets.

Saudi Aramco is the world's largest oil and gas giant, with sales of $604.4 billion and profits of $162.4 billion in 2022. This year, Saudi Aramco has made frequent investments in China. For example, it plans to acquire a 10% stake in Rongsheng Petrochemical Co., Ltd. at a price of 24.6 billion yuan (approximately equivalent to 3.6 billion U.S. dollars); join hands with North Industries Group and Panjin Xincheng Industry Group to start construction of a large-scale refining and chemical integration complex in Northeast China. device.

Dow Chemical is the largest chemical company in the United States, with net sales of US$56.9 billion and net profit of US$4.64 billion in 2022. Dow entered the Chinese market in 1979, with about 3,000 employees, and Greater China is its second largest market in the world. Dow's Zhangjiagang production base covers an area of ​​1.4 million square meters. It was put into operation in 2002 and is the largest production base in China. Shanghai Dow Center is the business and innovation center of the Asia-Pacific region, and it is also the largest integrated R&D center of Dow outside the United States.

The International Chemical Manufacturers Association currently represents nearly 70 multinational chemical companies with major investments in China. Since 2009, it has been committed to promoting the Responsible Care initiative, making outstanding contributions to the sustainable development of the chemical industry and the realization of carbon emission reduction goals. contribute.