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China Market Insider Five Industry Clusters: China Wants to Concentrate its Petrochemical Industry
China wants to accelerate the concentration of its petrochemical industry into five industrial clusters. The ‘big five’ are listed in the People's Republic's just published new five-year plan. The China Market Insider Report presents them in detail.
Beijing/China – Central planners in Beijing are concerned with economies of scale and exploiting synergies in the expansion of petrochemical clusters and reducing environmental risks. Smaller chemical plants will have to move to chemical parks in the clusters, where laws will be more strictly monitored.
In addition to the goal of modernizing China's chemical industry, numerous serious incidents had set this project of geographic concentration in motion several years ago. A recent example is a massive explosion at a chemical fertilizer factory in Xiangshui in the coastal province of Jiangsu on March 21, 2019, which claimed the lives of 78 people.