The National Development and Reform Commission published “Vigorously Promoting the Optimization and Upgrading of Traditional Industries”. For raw material industries such as steel and petrochemicals, the key is to balance supply and demand and optimize the structure. The raw materials industry is an important basic industry and pillar industry of China's national economy. Currently, raw material industries such as steel and petrochemicals generally face problems such as insufficient dynamic balance between supply and demand and poor product structure. During the “15th Five-Year Plan” period, the raw materials industry should deepen supply-side structural reforms, insist on collaborative efforts between supply and demand, increase the supply of high-end production capacity, and ensure a moderate total scale, a basic balance between supply and demand, and product structure upgrades. Strengthen industry management, insist on “reducing oil, increasing and improving quality”, continue to implement crude steel production regulation, strictly prohibit additional production capacity in violation of regulations, and promote survival of the fittest. Focus on the needs of key industrial chains, support enterprises to accelerate industrial scientific and technological innovation, promote the development and industrialization of innovative products, speed up the completion of shortcomings and weaknesses, and accelerate the industry towards the middle and high-end. Strengthen normalized operation monitoring and scheduling, and give full play to the role of early warning mechanisms.

The National Development and Reform Commission published “Vigorously Promoting the Optimization and Upgrading of Traditional Industries”. For raw material industries such as steel and petrochemicals, the key is to balance supply and demand and optimize the structure. The raw materials industry is an important basic industry and pillar industry of China's national economy. Currently, raw material industries such as steel and petrochemicals generally face problems such as insufficient dynamic balance between supply and demand and poor product structure. During the “15th Five-Year Plan” period, the raw materials industry should deepen supply-side structural reforms, insist on collaborative efforts between supply and demand, increase the supply of high-end production capacity, and ensure a moderate total scale, a basic balance between supply and demand, and product structure upgrades. Strengthen industry management, insist on “reducing oil, increasing and improving quality”, continue to implement crude steel production regulation, strictly prohibit additional production capacity in violation of regulations, and promote survival of the fittest. Focus on the needs of key industrial chains, support enterprises to accelerate industrial scientific and technological innovation, promote the development and industrialization of innovative products, speed up the completion of shortcomings and weaknesses, and accelerate the industry towards the middle and high-end. Strengthen normalized operation monitoring and scheduling, and give full play to the role of early warning mechanisms.