On August 15, 2007, a significant symposium on petrochemical cooperation across the Taiwan Strait was held in Tianjin. Li Yongwu, president of the China Petroleum and Chemical Industry Association, emphasized during the event that fostering closer exchanges and collaboration between the two sides is a key policy of the mainland. He highlighted that over the past three decades, the petrochemical industries on both sides have experienced rapid growth, with ethylene production capacity across the strait surpassing 11 million tons by 2006, making it a vital player in Asia and globally. Li noted that as the mainland entered its 11th Five-Year Plan in 2006, the petrochemical sector was entering a phase of accelerated development. With new projects involving ethylene capacities ranging from 800,000 to 1 million tons, the industry was expected to see improvements in technology, scale, and product quality. However, challenges such as rising dependence on oil resources, increasing energy demands, and environmental pressures were also being faced. To address these issues, expanding international and cross-strait cooperation and learning from global best practices became essential strategies for sustainable growth. Recent years have seen a steady increase in cross-strait petrochemical trade. By 2006, Taiwan had become the fourth-largest supplier of petrochemical products to the mainland, with imports reaching $13.7 billion, or 12.1% of China’s total petrochemical imports. Zhou Xinhuai, director of the Taiwan Petrochemical Industry Association, pointed out that the mainland’s growing demand for petrochemicals offered great opportunities for Taiwanese companies. Currently, about two-thirds of Taiwan's petrochemical sales are made in the mainland, and investments in third markets are also an important part of their strategy. He added that the mainland’s advanced refining technologies and Taiwan’s strong downstream sectors like PE, PP, PS, PVC, and ABS create a highly complementary relationship, which has led to increased cooperation. Both sides also see potential in collaborating in the Middle East market through joint ventures. The symposium covered various topics, including the future of the petrochemical industry across the strait, the impact of Middle Eastern developments on global markets, improvements in environmental standards, research into synthetic materials, and the promotion of the HSE system. The event was held in Tianjin, a key city in the Bohai Economic Circle and an important area in the mainland’s petrochemical strategy. Attendees from Taiwan also used the opportunity to explore investment possibilities in the region.

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