On May 25th, the High-level Forum on Energy Strategy took place in Beijing as part of the 9th China Beijing International Science and Technology Industry Expo. Organized by the China Petroleum and Chemical Industry Association, the event brought together industry leaders, policymakers, and experts to discuss key energy challenges and opportunities. Li Yongwu, the association’s president, delivered a keynote speech, offering insights into the current state and future direction of China’s energy sector.
Li emphasized that the petroleum and chemical industry is a cornerstone of China’s economy, with a significant contribution to national industrial output. In 2005, the sector achieved an industrial output value of 3.3762 trillion yuan, with over 20 major products ranking among the world's top producers. However, the industry faces several critical challenges, including balancing international competitiveness with innovation, managing rapid growth against limited resources, aligning with the need for a resource-efficient society while dealing with outdated technology and management practices, and addressing environmental concerns with insufficient governance capacity.
During the "11th Five-Year Plan" period, the oil and chemical industry will see new development opportunities, but it will also face increasing pressure from resource scarcity and environmental issues, especially energy demand. To address these challenges, the industry must strictly follow the 32-character principle: "energy conservation first, efficiency-oriented, coal-based, diversified development, structural optimization, environmental protection, and domestic openness," ensuring that it meets the needs of economic and social development.
With global energy shortages and rising crude oil prices, the Energy Forum at the CIIF has gained growing attention in recent years. Last year, it was recognized as one of the top 10 most-discussed forums of the year. This year’s theme focused on promoting healthy and orderly development of the energy industry and contributing to the construction of a conservation-minded and harmonious society. The forum featured special sessions on the oil and petrochemical industry, coal, power, and energy-saving technologies, with discussions on topics such as the development of offshore oil and gas, safe and sustainable management in the petrochemical sector, and strategies for long-term industry growth.
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