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The Economic Times

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China plans to upgrade some petrochemical plants, phase out others by 2029

China is set to upgrade some older petrochemical plants while shutting down others by 2029. This move aims to improve the supply-demand balance in the petrochemical sector. Local governments have compiled lists of facilities for this purpose. Annual surveys will identify new outdated plants. The nation plans to reduce oil refining capacity.

3 Apr 2026 9:53 am