Beijing: The rapid growth in China’s petrochemicals output, part of the nation’s drive for self-sufficiency and to climb up the global value chain, is reshaping global oil demand and drawing greater interest from multinational companies seeking a foothold in the world’s largest consumer market, say industry experts and company executives.
In recent years, China has ramped up investments in advanced petrochemical facilities, including construction of refinery-petrochemical complexes capable of converting crude oil directly into high-value chemicals used in plastics, textiles and electronics.
