With the implementation of China's "carbon emission trading management measures (Trial)", China's carbon market is about to start, and is expected to become the world's largest carbon market. On March 26, Xu Rong, director of ICIS China market development, said that the "30.60" target will further promote the standardization and innovation of the energy and chemical industry industry chain. The bulk consumption of terminal consumer industries such as automobiles and household appliances will continue to increase steadily. Energy saving and emission reduction will remain the main theme, and the refining industry will further integrate.

Whether the hot words of the two sessions of the National People's Congress "carbon peak" and "carbon neutral" accelerate out of the circle, or the government work report, all put forward to make full use of market-oriented means to promote the coordinated development of carbon emission reduction and social economy, and "expanding domestic demand" is the strategic basis of the Chinese government's work. Xu Rong believes that China's economy has significant advantages, with foundation and potential to form a strong domestic market and a domestic and international dual cycle, in which the energy and chemical industry is one of China's pillar industries.

Since entering the Chinese market in 2007, ICIS has witnessed the sustained and stable development of the upstream and downstream of the energy and chemical industry“ Striving to reach the peak of carbon by 2030 and achieve carbon neutrality by 2060 "is a solemn commitment made by China to the international community, which is in line with the general trend of promoting low-carbon economy and sustainable development goals of the international community. This means that the time for China to achieve the goal of carbon neutrality will be significantly shorter than that of developed countries.

Tao Wenhai, chief energy analyst (petroleum) of ICIS China, believes that improving the energy structure, promoting low-carbon clean energy, improving energy efficiency, promoting carbon capture technology, and increasing green and low-carbon R & D investment will be important ways for China to achieve this strategic goal in the future. Among them, increasing the proportion of renewable energy in the energy structure and improving the industrial structure are the most important ways to reduce energy consumption. As a traditional fossil energy, petrochemical industry is one of the main sources of carbon emissions. How to promote low-carbon, energy saving and emission reduction will be one of the main themes of the industry in the future. ICIS suggests that energy and chemical enterprises should measure their investment scale or resources, find a suitable position in the carbon market, and assess the risks they can bear and the possible opportunities in the future.

Zou minzhen, senior analyst at ICIS, believes that China's refining capacity expansion will ease in the 14th five-year economic cycle starting from 2021. Because of China's carbon emission ambition and the continuous oversupply of domestic refined oil market, the government's determination to phase out small and inefficient refineries mainly located in Shandong has been strengthened, and new refining investment has been controlled. It is expected that refining enterprises will increase investment in reducing volatile organic compounds and carbon emissions during the 14th Five Year Plan period, At the same time, the government will tighten the approval of investment in new refineries and speed up the integration of the domestic refining industry（ (MEng fanjun)