The 19th National Congress of the Communist Party of China pointed out that the reform of the economic system must focus on perfecting the property rights system and the market-oriented allocation of factors, realizing effective incentives for property rights, free flow of elements, flexible price response, fair and orderly competition, and survival of the fittest. We will deepen the reform of state-owned enterprises and develop the mixed-ownership economy by fully implementing the negative market inventory system, abolishing the various provisions and practices that impede the uniform market and fair competition, and supporting the development of private-owned enterprises To stimulate the vitality of all kinds of market entities, deepen the reform of the commercial system, break administrative monopolies, prevent market monopolies, speed up marketization reform of factor prices, relax restrictions on access to service industries and perfect the market regulatory system, innovate and improve macroeconomic regulation and control, Planning the role of strategic direction, improve financial, monetary, industrial, regional and other economic policy coordination mechanism.
Conglin, an analyst at Golden Link, said that speeding up the improvement of the socialist market economic system can be said to be one of the parts of the overall report that has the greatest impact on the petrochemical industry, most notably the reform and development of mixed-ownership state-owned enterprises and their elements Price market reform.
The purpose of the mixed ownership reform is to hoping that we can take the advantages of all kinds of ownership and set the superiority of all kinds of ownership to develop state-owned enterprises. Many excellent private-owned enterprises in China have good decision-making mechanisms, decision-making procedures, and well-managed processes and experiences , While the state-owned enterprises have strong cohesion and strong combat effectiveness, have good development foundation and comprehensive innovation advantages, and achieve better development goals through complementing each other's advantages, which means that the petrochemical industry reform will be liberalized from the petrochemical industry chain , Give full play to the role of the market, petrochemical enterprises is expected to speed up the reform through to improve the corporate governance structure of state-owned petrochemical enterprises, encourage qualified petrochemical enterprises to develop diversified ownership and multiple forms of mixed ownership, promote the restructuring of state-owned petrochemical enterprises integration. The reform of state-owned enterprises called for several parties to work together, make strong alliances and optimize the integration in various aspects to play an intensive role of '1 + 1 + 1> 3' .In fact, starting from 2014, Sinopec took the lead in promoting mixed ownership reform and the sales company introduced private capital. The second half of this year, oil and gas exploration, mining, sales section of the upper and lower reaches of the gradual opening up will be some action, Continued corresponding measures will be launched soon, at least three major oil companies will be included in a pilot.
In the future, petrochemical enterprises will deepen scientific marketing through 'hybridization' to promote efficient development of enterprises and further enhance their comprehensive service capabilities, market competitiveness and brand influence. According to Golden Alliance, on September 16, 2017, Zhejiang Province took the lead in establishing Zhejiang Petroleum Group, the group registered capital of up to 11 billion yuan, of which Zhejiang Energy Group holds 60%, the other 40% stake holders Rongsheng Petrochemical, Juhua Group invested in Zhejiang Petrochemical Co., Ltd., the latter Zhejiang Zhoushan is investing 40 million tons / year refining integration project.Silight, Shandong refinery energy group was formally established in Jinan, the registered capital of 90 billion yuan, the group led by Dongming Petrochemical, a total of 16 refining enterprises Joint investment. Golden Link analysts believe that in recent years, the increasingly fierce competition in the refining industry, large-scale refinery projects have been launched, in this context, to refining enterprises Baotuan set up refining group is to improve the right to speak. At present, China Of the refinery market is dominated by the 'four barrels of oil', to refining has been in a more dispersed, go it alone state from Zhejiang Petroleum Group and the establishment of Shandong Refining and Energy Group Difficult to find, the purpose of refining enterprises Baotuan is to promote deeper cooperation of local refineries, optimizing the integration of local refineries in the procurement of raw materials, logistics and distribution, capital flow, product optimization and other aspects of allocation, capital, logistics co-ordination, Enhance the core competitiveness of the refining industry and the right to speak.
As for the market-oriented reform of factor prices, some important energy products such as refined oil and natural gas are still non-market-based in the market at present. For instance, the price of natural gas in China has always been priced by the government and can not respond to changes in market supply and demand in a timely manner. Increasing the operational risks of upstream and downstream enterprises is not conducive to the development and growth of the natural gas industry.With the deepening of China's energy market reform, the reform of state-owned enterprises have achieved great results.At the same time, the reform of China's natural gas pricing mechanism is basically completed. China's natural gas market has significantly improved, attracting a lot of capital, and the enthusiasm of domestic and foreign enterprises investing in China's natural gas industry is unprecedented .This not only guarantees China's natural gas supply, but also promotes green development, expands clean energy industry, and realizes environmental pollution in China At the same time, the industry is also actively exploring, including crude oil futures market and other financial derivatives price strategy, to enhance China's petrochemical prices in the international influence and bargaining power.On the other hand, the 19 proposed to deepen the commercial system Reform, breaking the administrative ridge , To prevent the market monopoly, improve market supervision.With the development of the industry, on the one hand the administrative monopoly continues to be broken, on the other hand spontaneous trade associations and business alliances began to rise, the industry market monopoly signs appear in September 2017, 6 PVC oligopoly industry has been fined 100 million yuan because of price monopoly, can be said that the industry monopoly ring alarm.