China’s five-year plan shapes the development of global downstream industry

China’s regulation is like an invisible hand directing the development of China’s refining and petrochemical industry. The five-year plan is an important part of China's national economic plan. It defines the plans for major national construction projects and sets out the goals and directions for the long-term development of the national economy and industry. The year 2021 is the first year of the 14th Five-Year (2020-2025) Plan, which is the most important period for China to leap from being a high-volume downstream producer to a highly competitive one. In this insight, we will analyze how China’s 12th and 13th five-year plan reshaped China’s downstream industry and their impact on the global market. We will also analyze the forthcoming 14th FYP and its potential implications.