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The petrochemical industry damage warning system initiated three major changes in domestic and foreign chemical anti-dumping
On March 16, Vice Minister of Commerce Gao Hucheng made a key announcement at the 2005 Oil and Chemical Industry Injury Warning and Information Sharing Conference held in Beijing. The event brought together the Ministry of Commerce’s Industrial Damage Investigation Bureau, the China Petroleum and Chemical Industry Association, PetroChina, Sinopec, CNOOC, and China National Chemical Industry Corporation. Together, they launched a joint initiative to establish an information-sharing mechanism aimed at preventing industrial damage and issuing early warnings in the oil and chemical sector.
It is reported that since July 2003, the Ministry of Commerce has been working with the China National Chemical Information Center to monitor and research warning signals related to industrial damage for key sensitive chemical products. The research team identified 20 to 30 critical products with high volatility in import and export volumes. They closely tracked domestic and international production levels, changes in market prices, their impacts, and the influence of major events on product competitiveness. Through both vertical and horizontal analysis, the team provided essential support for government and corporate decision-making by releasing monitoring data, preparing special reports, and organizing information-sharing sessions. This effort laid the foundation for the development of a formal industrial damage prevention and early warning system.
Over the past two years, the research group has focused on monitoring 36 key sensitive chemical products, including chloroform, silicone, spandex, ethylene propylene, furfural, butanol, octanol, and catechol. Out of these, nine products have been involved in anti-dumping cases in China, making up 70% of all chemical-related cases filed nationwide during the same period. Additionally, the team submitted detailed reports on industrial damage warnings and monitoring for four key industrial chains: propylene, synthetic rubber, synthetic resin, and PX-PTA-PET. These reports have offered crucial support for policy decisions and industrial investigations by relevant government departments.
The newly launched early warning information-sharing mechanism for the petrochemical industry will integrate sensitive chemical products into a dynamic monitoring system. Going forward, quarterly information-sharing meetings will be held to ensure timely updates and coordinated responses.
Wang Qinhua, director of the Bureau of Industrial Injury at the Ministry of Commerce, highlighted three main trends in international anti-dumping actions against petroleum and chemical products in 2005. First, high-tech products have become a new target for anti-dumping measures globally. Second, there is a noticeable difference in the types of products targeted by domestic and foreign anti-dumping efforts. China has primarily focused on high-tech and high-value-added products such as certain organic chemical raw materials and synthetic resins, while foreign countries have concentrated on low-value products like inorganic chemical raw materials. Third, rising oil prices have caused significant price fluctuations in many chemical products, creating new challenges and topics for anti-dumping investigations.