The Petrochemical Industry In China - Government Regulation And Development Policies

Abstract

This paper describes the history of the Petrochemical industry in China after the Second World War. Analysis of the political foundations for the regulatory policies that shaped the industry is followed by a detailed review of the role and responsibilities of various government bodies in the decision making process. The paper refers to the three fundamental political decisions in China, related to the political system, the macroeconomic policy, and the crude oil prices. A critical analysis of the price reforms in the 90’s, and the alterations in the corporate structure and the distribution system, leads to conclusions on the effectiveness of regulatory policies at different stages of planned industrial development.

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