NEV boom prompts calls for refined petrochem exports

Company executives and industry experts are advocating for the gradual easing of refined oil and chemical export restrictions, amid the rapid adoption of new energy vehicles nationwide.

They also proposed a measured relaxation of export controls on refined oil products and tax-free chemical exports through coordinated policy support.

In light of China's evolving energy landscape and the rapid adoption of NEVs, Ma Yongsheng, chairman of China Petroleum and Chemical Corp, also known as Sinopec, suggested steadily advancing the gradual relaxation of export restrictions on refined oil and tax-free chemical products during the 15th Five-Year Plan (2026-30) period.