January 18, 2025 – Hunan Unveils Comprehensive Policy Package to Propel Modern Petrochemical Industry Towards High-Quality Development
In a concerted effort to boost the high-quality development of its modern petrochemical industry, Hunan Province has witnessed the joint issuance of a new policy initiative by the Provincial Department of Industry and Information Technology, alongside thirteen other relevant departments. The “Several Policy Measures to Support the High-Quality Development of the Modern Petrochemical Industry in Hunan Province” aims to propel the petrochemical industry into a new phase of robust growth from multiple dimensions.
The Measures prioritize streamlining project approval processes, outlining specific measures to optimize safety reviews and steadily delegate authority for safety examinations of hazardous chemical construction projects. They ensure equal treatment for enterprises of all ownership types during the approval process. Additionally, enhancing the coordination between industrial park planning environmental assessments and construction project environmental assessments is emphasized to improve the efficiency of project environmental approval.
In terms of strengthening project factor safeguards, the Measures call for a provincial-level coordination of energy consumption and coal consumption indicators to support major petrochemical projects planned and laid out by the state. Furthermore, enterprises are encouraged to leverage preferential policies and new technologies to reduce electricity costs, while measures such as shutting down polluting enterprises and upgrading technological processes provide environmental capacity guarantees for key construction projects. Notably, projects included in the provincial list of major modern petrochemical industry projects will receive priority land use index support, with rational land use planning in chemical parks to reserve space for industrial development.
According to Color Masterbatch Industry Network, the Measures also place significant emphasis on strict management and rational planning of chemical parks. The establishment of new chemical parks will be strictly controlled, while eligible parks are supported in expanding their areas in accordance with laws and regulations. Moreover, key monitored enterprises in the chemical industry are encouraged to build, renovate, and expand chemical projects without additional land supply or an increase in total emissions of major pollutants.
To foster and expand business entities, the Measures propose advancing major projects such as the 1 million-ton ethylene refining and chemical integration project and the Hengyang green and low-carbon soda ash and salt chemical industry park project. They also support leading enterprises in the modern petrochemical industry in developing into 100 billion-yuan and 50 billion-yuan enterprises. Projects in the modern petrochemical industry that align with industrial orientations, possess independent intellectual property rights, and have investments exceeding 500 million yuan will be prioritized as provincial key construction projects.
Furthermore, the Measures explicitly advocate for the transformation and upgrading of the modern petrochemical industry, pushing it towards a high-end, green, and intelligent development path, thus charting a clear course for the future growth of Hunan’s petrochemical industry.