China’s PX Self-Sufficiency Degree to Surge by 2020

The 13th Five-Year Plan sets the framework for government policies from 2016 to 2020, and focuses on boosting economic development during a period of slowing economic growth. It is an important part of China's national economic plans and is a long-term plan.

PX is the focus of the key development industry, and it is clearly stated that, the self-sufficiency degree will increase to 65%-70% in China by 2020, according to the 13th Five-Year Plan.

As the largest PX user, China registers an import dependence degree of as high as above 60%. Moreover, no new capacity has been released since 2015. Therefore, the supply gap has been widened.

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