On September 28^th, Sinopec South China Coordination Meeting for Chemicals Production and Sales was held in FREP.

At the meeting, the overall production and sales in chemicals market in the next three years were forecasted and analyzed, which was of significance in guiding production and operation, raw material optimization and resource development.

The meeting was hosted by Sinopec Chemical Department and undertaken by FREP T&P Dept. The principal responsible persons for production and operation from 9 Sinopec companies, i.e. Sinopec Chemical Sales South China Branch, Maoming Petrochemical, Guangzhou Petrochemical, Hainan Refinery, Gulei Petrochemical and FREP attended the meeting.

At the meeting, Sinopec Chemical Sales South China Branch, as a direct participant of chemicals market, reviewed and analyzed the market situation in 2018 and the next 3 years. In general, the chemical market would face uncertainties brought by the trade war in future. At the same time, it faced pressure from competition and capacity release from new market participants. Facing the complicated and ever-changing market, opening up minds based on production optimization, the raw materials sources broadening and potential and efficiency promoting would be what the refining and chemical enterprises strive for in the future.

Every production enterprise reported the overall plan of production operation and analyzed the main contradictions and coping strategies of optimization operation in combination with its own production conditions. The enterprises also fully discussed the possibility of raw materials and products sharing among enterprises to explore cooperation opportunities.

In the afternoon, some representatives visited the exhibition hall, CCR2 and unit area to learn about the Company's development history, management philosophy and overall production and operation in details. They also had in-depth discussions on production and operation of, optimization measures and future development strategies for chemical units.

The meeting provided a broad platform for strengthening the Company's links with companies in the same industry and promoted exchanges and cooperation. Through communications and discussions, we had an idea of our counterparties’ judgment on the future situation, absorbed their best practices in operation optimization, and explored the market opportunities of raw materials sharing between enterprises. The Company would take the organization and convening of industry conferences as an opportunity to broaden industry exchanges and cooperation to achieve mutual benefit and win-win situation. (Lin Mingbin)