According to the news conference held by the Information Office of shandong Provincial Government last week, with the clearance of backward production capacity and the improvement of traditional momentum, shandong, a major industrial province, has weathered the worst of the epidemic and is on the track of normal development. Industrial production in the province has been growing for four consecutive months since March, and chemical output ended a sharp decline last year. In the first half of this year, the added value of the province's chemical raw materials and chemical products manufacturing industry increased by 1.5% year on year.

Since 2017, Shandong province has promoted the transformation and upgrading of safe production in the chemical industry, cutting coal consumption, eliminating backward production capacity, redefining chemical industrial parks, shutting down and turning into "disorderly and polluting" enterprises. As a result of this impact and falling product prices, chemical enterprises above the scale in the province completed the main sales revenue of 1.88 trillion yuan in 2019, down 46% year on year.

But Shandong province did not stop the pace of kinetic energy conversion. According to Guan Zhaoquan, deputy director of the Provincial Development and Reform Commission, in the first half of this year, industrial enterprises above designated size reduced coal consumption by 26.351,000 million tons and coking production capacity by 13.96 million tons, and coal consumption by industrial enterprises above designated size dropped by 12.9 percent year on year.

Meanwhile, the province is striving to cultivate high-end chemical industries. Among them, a large number of high-end chemical projects with large investment, strong driving ability and good market prospects, such as wanhua Chemical integrated ethylene project of polyurethane industrial chain, Weilian Chemical project with annual output of 2 million tons of paraxylene, Tianchen Qixiang Nylon new materials project, etc. As of the first half of this year, more than 340 high-end chemical projects have been put into storage after adjustment, of which more than half are under construction and some have been completed and put into operation.

This year marks the beginning of the third year in Shandong province when the old and new drivers of growth have been replaced by new ones. "In the first half of the year, the price of chemical products picked up significantly. Of the 27 chemical products monitored, 21 saw month-on-month price increases, accounting for 78%. The refinery industry has basically finished the digestion of high-priced crude oil in the early stage, and the benefits of the industry generally rebound. The operating rate of the refinery enterprises and the primary crude oil processing and production load of the province are around 90%. Shandong province industry and information technology department deputy director Wang Xinsheng said.