It is our great pleasure to present the 3rd annual China Petrochemical Focus 2009 which is going to be staged on 26th ¨C 27th Feb in Shanghai China, the most dynamic region in the global petrochemical industry.
The transitional petrochemical industry has gone through massive turbulence in 2008 with the worsening credit crunch and impeding demand destruction. The delayed complexes in Middle East are expected to come into stream in 2009 and thus the over capacity is not only hurting European and US producers but also squeezing Asia producer's margin in a downturn cycle. Then will China can cope well with the upcoming capacities from the Middle East remains to be the essential questions for global major petrochemical producers.
China, featuring a unique position of both a major producer and consumer, has to confront with shrinking demand from US & Europe, which probably expedite expected economic restructuring in the following years. The short term volatile and upheaval could probably drive some companies out of business but the post-earthquake reconstruction and the long-term economic restructuring will keep China stay as the main engine for global petrochemical industry growth.
Maintaining business as usual in tough economic times seems like a tall order. The China Petrochemical Focus 2009 will therefore be designed to investigate about what can be done to survive and evolve in the value chain. Acquiring cost-control upstream or profitable downstream assets through M&A, managing rising costs in construction & logistics, realizing cash flow increase by carbon trading are all the possible means to synergize and strategize for the uncertain future.
Based on the above observation and commitment, we're pleased to welcome you to Shanghai for what is going to be a truly crucial and rewarding event in petrochemical and chemical industry.