The Taiwan Affairs Office of the State Council was informed that the Cross-Strait Economic Cooperation Committee has been formally established under the framework of the ARATS and the Taiwan Strait Foundation, marking an important progress in the institutionalization of cross-strait economic relations. According to the latest statistics from the Customs, from January to November 2010, cross-strait trade reached US$131.76 billion, an increase of 39.7% over the same period of the previous year; mainland China imported US$105.10 billion from Taiwan, mainland China exported US$26.66 billion to Taiwan, chemical products, and chemical materials. Plastic products, tires, etc. have become the cooperation targets for cross-strait investment and trade.
The petrochemical industry is an important pillar industry on both sides of the Taiwan Strait. It is also a key industry for cross-strait economic cooperation. Although there is a shortage of oil and gas resources in Taiwan, the petrochemical industry is relatively competitive, with a refining capacity of 65.5 million tons/year and an ethylene production capacity exceeding 4 million tons/year. It is one of the world's major export bases for petroleum and petrochemical products. In 2009, Taiwan’s petrochemical products exported nearly 9 million tons to the mainland, including synthetic fibers and raw materials, synthetic resins and synthetic rubber. The mainland petrochemical industry has formed a complete industrial system with more than 40 sub-sectors, production of more than 60,000 kinds of products, basic categories, basic supporting varieties, and certain international competitiveness. The bilateral economic and trade exchanges form a complementary relationship. At present, the cross-strait petrochemical industry has carried out rich and diverse forms of cooperation in oil and gas exploration and development, oil product trade and logistics, downstream product trade, petrochemical project investment, and business management.
It is understood that in order to promote the deepening development of the cross-strait petrochemical industry, last year PetroChina, Sinopec, CNOOC, Sinochem, and Taiwanese companies such as Zhongyou and Formosa Plastics have extensive and in-depth cooperation. At the same time, Sinopec and Sinochem also set up offices in Taiwan. Taiwanese companies in the mainland such as Formosa Plastics, Hetong, Changchun Group, Changxing Chemical, Delta Chemicals, Chi Mei Group, Guo Qiao Group, and Liancheng Group have all invested in the mainland and achieved good returns.
The petrochemical industry is an important pillar industry on both sides of the Taiwan Strait. It is also a key industry for cross-strait economic cooperation. Although there is a shortage of oil and gas resources in Taiwan, the petrochemical industry is relatively competitive, with a refining capacity of 65.5 million tons/year and an ethylene production capacity exceeding 4 million tons/year. It is one of the world's major export bases for petroleum and petrochemical products. In 2009, Taiwan’s petrochemical products exported nearly 9 million tons to the mainland, including synthetic fibers and raw materials, synthetic resins and synthetic rubber. The mainland petrochemical industry has formed a complete industrial system with more than 40 sub-sectors, production of more than 60,000 kinds of products, basic categories, basic supporting varieties, and certain international competitiveness. The bilateral economic and trade exchanges form a complementary relationship. At present, the cross-strait petrochemical industry has carried out rich and diverse forms of cooperation in oil and gas exploration and development, oil product trade and logistics, downstream product trade, petrochemical project investment, and business management.
It is understood that in order to promote the deepening development of the cross-strait petrochemical industry, last year PetroChina, Sinopec, CNOOC, Sinochem, and Taiwanese companies such as Zhongyou and Formosa Plastics have extensive and in-depth cooperation. At the same time, Sinopec and Sinochem also set up offices in Taiwan. Taiwanese companies in the mainland such as Formosa Plastics, Hetong, Changchun Group, Changxing Chemical, Delta Chemicals, Chi Mei Group, Guo Qiao Group, and Liancheng Group have all invested in the mainland and achieved good returns.
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