The opening of the entire oil and gas industry chain in Zhejiang Free w88 Zone has been approved to support the moderate development of refined oil export business
(Source: Xinhua News Agency "Shanghai Securities News" 2020-04-01)
The State Council approved on March 31, "Several Measures to Support the Open Development of the Whole Oil and Gas Industry Chain in the China (Zhejiang) Pilot Free w88 Zone" (hereinafter referred to as the "Measures"), and required relevant departments to focus on supply-side structural reform, strengthen reform system integration, collaboration and efficiency, and promote the open development of the entire oil and gas industry chain.
"The State Council has approved the opening of the entire oil and gas industry chain in the Zhejiang Free w88 Zone. On the one hand, it is conducive to the construction of China's petroleum industry. On the other hand, oil and gas are the characteristics of the development of the Zhejiang Free w88 Pilot Zone. This move is conducive to the industrial economic development of Zhejiang Province based on its own characteristics."Dong Xiucheng, Professor of the National Institute for Opening up, w88 casinoTell the Shanghai Securities News.
Actively introduce international strategic investors and various enterprises
To deepen reform, system comes first. In order to promote the open development of the entire oil and gas industry chain in the Zhejiang Pilot Free w88 Zone, the Measures propose a series of detailed measures focusing on introducing international strategic investors in oil w88 and accelerating the transformation and upgrading of the petrochemical refining industry.
The "Measures" propose to give full play to the role of internationally renowned exchanges, introduce experienced exchanges from New York, London, Singapore, Dubai and other places as strategic investors, and introduce the resources of international oil traders.
In addition, it is necessary to give full play to the enthusiasm of various enterprises and attract central enterprises, local state-owned enterprises and private enterprises related to oil w88 to gather in the Zhejiang Free w88 Pilot Zone.
“The introduction of international strategic investors is a reflection of the Zhejiang Pilot Free w88 Zone’s opening up to the outside world in the field of oil and gas trading platforms. The entry of external investors into China’s trading platforms has never happened before. It is also a reflection of institutional innovation and will help promote China’s oil and gas transactions to be more open, transparent and standardized. "Dong Xiucheng said.
In terms of coordinated development of the industrial chain, the "Measures" propose that international advanced chemical production technology should be used, focusing on high-end chemicals and new chemical materials, and the downstream chemical deep processing industry chain should be developed; and the development of the entire industrial chain of oil and gas import, storage and transportation, processing, w88, trading, and services should be accelerated; in addition, the construction of liquefied natural gas (LNG) receiving centers should be supported.
The "Measures" also propose that the Zhejiang Pilot Free w88 Zone will be supported in the moderate development of refined oil export business, and qualified refining and chemical integration enterprises in the zone will be allowed to carry out non-state w88 exports of by-product refined oil on a pilot basis.
Dong Xiucheng believes that my country's refined oil exports implement a quota system. Private companies have obtained export quotas in the past. However, in the past two years, export quotas have been mainly issued to large state-owned companies. In the future, private companies may be taken into account again in terms of quotas.
Promote the coordinated development of commodity futures and spot markets
The Zhejiang Pilot Free w88 Zone is the only free w88 zone in my country that features the construction of the entire oil and gas industry chain. In recent years, the free w88 pilot zone has actively promoted a series of major petrochemical projects, including: China's first national-level private LNG project, the ENN Zhoushan LNG receiving station, was completed and put into operation in October 2018; the first phase of Zhejiang Petrochemical's 40 million tons refining and chemical integration project was also officially put into operation in 2019, and its second phase project also officially started construction in March this year.
In order to better promote the futures market to serve the real economy, the "Measures" propose to support the cooperation between the Zhejiang Pilot Free w88 Zone and domestic futures spot trading platforms such as the Shanghai Futures Exchange to jointly build a bulk commodity spot trading market focusing on oil products, and use "futures and spot cooperation" as a link to carry out spot trading of bulk commodities such as crude oil, refined oil, and fuel oil.
Dong Xiucheng believes that the Zhejiang Pilot Free w88 Zone hopes to integrate and develop oil, gas, chemicals and other crude oil-related industries, and achieve all-round opening up of the oil and gas industry in the zone, which is also in line with the requirements for the open development of the entire oil and gas industry chain.
In terms of the development of the spot market, the "Measures" propose that on the premise of improving risk prevention measures, domestic and foreign enterprises in the industry will be allowed to enter the bulk commodity spot trading market in the Zhejiang Pilot Free w88 Zone to carry out trading business. In addition, it is necessary to build an international energy w88 and trading platform, promote the Zhejiang Pilot Free w88 Zone to accelerate the development of international oil and gas w88, build a natural gas trading platform, and expand and strengthen LNG international w88.
In terms of improving the level of financial services and supervision of cross-border w88 in commodities, the "Measures" propose to explore the pilot program to facilitate cross-border RMB settlement of oil w88 and actively promote RMB settlement of bulk commodity w88. In addition, insurance companies are encouraged to focus on oil and gas and actively explore effective ways to provide protection for oil and gas exploration, refining, transportation, warehousing, etc.
Explore more preferential policies to support enterprise development
In order to better support the development of enterprises in the Zhejiang Pilot Free w88 Zone, the "Measures" also proposed a series of supportive policies.
In order to support the innovative development of the shipping business, the "Measures" propose that the feasibility of implementing the port of departure tax rebate policy at Ningbo Zhoushan Port will be comprehensively studied.
In terms of improving the marine low-sulfur fuel oil supply market, the "Measures" propose to innovate the bonded blending policy of bulk commodities, formulate the physical blending w88 management measures for bulk commodities in the Zhejiang Free w88 Pilot Zone, and carry out the physical blending of bulk commodities such as oil products and iron ore under bonded conditions to effectively reduce enterprise costs and meet market demand.
In addition, policies and measures to promote the development of the entire oil and gas industry chain will be explored and studied based on internationally accepted tax policies. Support the development of international ship oil supply business and the construction of oil and natural gas storage projects, study the technical distinction of marine low-sulfur fuel oil from fuel oil and increase the export tax rebate rate.
Dong Xiucheng believes that in order to better promote the development of the entire oil and gas industry chain, in addition to tax and other preferential policies, it is also necessary to break down previous institutional barriers and support other related policies.
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