Petrochemical General Machinery Must Improve Export Product Structure

Since the beginning of this year, the petrochemical general machinery industry has seen a significant surge in exports, with the trade surplus expanding steadily. However, recent policy changes, including adjustments to export tax rebates and processing trade regulations, are expected to slow down the growth rate of exports in the second half of the year. Industry experts emphasize that shifting the export growth model and optimizing the product structure have become critical challenges for the sector. The tax rebate adjustment involves 219 customs tariff lines for mechanical products, with 22 specifically affecting the petrochemical general machinery industry—accounting for about 13.2% of its import and export volume. Products with lower tax rebates tend to be those with lower technological content and minimal value addition. While high-tech, high-value products continue to grow, labor-intensive items such as certain centrifugal pumps, blowers, fans, and valve components still make up a large share of exports. These need urgent optimization to align with long-term development goals. Reducing tax rebates will raise production costs, squeeze profit margins, and weaken export competitiveness. Some smaller companies may face short-term challenges. According to Zhang Yubao, Secretary-General of the China General Machinery Industry Association, the impact is currently limited, mainly affecting small private enterprises that produce mid-to-low-end general equipment. Large and medium-sized firms, on the other hand, focus on large-scale equipment, which is not widely exported at present. Experts suggest that to mitigate future policy impacts, petrochemical machinery companies must enhance management efficiency, cut production and intermediate costs, and consider raising export prices to offset revenue losses. At the same time, they should accelerate product structure upgrades by developing technologies with independent intellectual property, striving to meet international technical standards, and increasing the export of high-tech, high-value goods. This will help avoid situations where export prices are lower than domestic prices, which could trigger anti-dumping measures from importing countries. According to customs data, from January to June this year, the total import and export value of the petrochemical general machinery industry reached $25.983 billion, up 31.88% year-on-year. Exports amounted to $16.908 billion, an increase of 45.8%, while imports were $9.074 billion, up 11.97%. The trade surplus stood at $7.834 billion, rising by $4.357 billion. Key contributors to the surplus include petrochemical equipment ($113 million) and oil drilling parts ($315 million).

Water-soluble Fertilizers Containing Trace Element

Water-soluble Fertilizers Containing Trace Element,Trace Element Products,Trace Minerals Energy,Trace Minerals Plus Fertilizer

Yantai Hongyuan Bio-fertilizer Co.,Ltd. , https://www.hongyuanlinong.com