The Vice Chairman Of The PTA Branch Of The Sinochem Association

In recent years, great changes have taken place in the domestic and international environment of China's PTA industry. New market structure, supply and demand structure and sales mode have emerged. The PTA futures market has also made substantial progress in opening up to the outside world. In order to accurately grasp the latest developments in the PTA industry and promote the better service to the real economy by futures and other financial instruments, and further promote the high quality development of PTA industry in China, in 2019 17 - 18, in 2019, the annual meeting of the PTA Association of China Chemical Fiber Industry Association and the high quality development conference of China's PTA industry were held in Changsha. Representatives from PTA production and upstream and downstream enterprises, representatives of Futures Company and relevant experts and scholars attended the meeting.

In order to better serve the industrial development and further promote the development of PTA industry in China, the organizing ceremony of the PTA branch of China chemical fiber industry association was held at the annual meeting of the PTA sub committee. Zhejiang Yisheng Petrochemical Co., Ltd. was elected the new chairman unit, Hengli Petrochemical (Dalian) Co., Ltd., Fujian Fuhua industry and Trade Co., Ltd., Tong Kun group Limited by Share Ltd, Jiangyin Cheng Xing Industrial Group Co., Ltd., Zhejiang Dushan Energy Co., Ltd., Jiangsu Honggang Stone Co., Ltd., Sinopec Yizheng Chemical Fiber Co., Ltd. and Zhengzhou commodity exchange were elected as vice chairman of the new vice president.

Chen Xinwei, vice president of Sinochem, said in his speech that PTA futures has been going on the market for 12 years, and futures have a great impact on the PTA market. As an important intermediate product in the petrochemical industry chain, more and more domestic and foreign market players have taken PTA futures as a reference index for business decision-making and an important tool for managing risks.

"During the past ten years, great changes have taken place in China's PTA industry." Chen Xinwei said at the meeting that in 2008, China's PTA capacity was 11 million 800 thousand tons. In 2018, China's PTA production capacity was 45 million 790 thousand tons, which was 4 times higher. Over the past 10 years, the industrial structure of the PTA industry has undergone a subversive change. It has dominated by the large state-owned enterprises of Sinopec and PetroChina, and dominated by the development of polyester enterprises. The development of the integration of refining and chemical enterprises in polyester enterprises has also led to the rapid development of China's PX production capacity, and gradually solved the problem of PTA raw material supply, laying a good foundation for the development of PTA industry. At the same time, we can see that more PTA projects are being planned and implemented, which requires enterprises to seriously analyze and coordinate the relationship between supply and demand, and maintain a better PTA operation.

Chen Xinwei said that the Zhengzhou Mercantile Exchange has become the vice chairman of the PTA branch, hoping to strengthen the organization and publicity work in the circulation sector with the help of the power of Zheng Shang, strengthen information communication, enhance risk awareness, and make full use of futures and other financial instruments to enhance the power of the service industry.