In March 2025, Beijing hosted the National People's Congress (NPC) and the Chinese People's Political Consultative Conference (CPPCC), collectively referred to as China’s “Two Sessions.” During these sessions, Ma Yongsheng, a member of the CPPCC, an academician at the Chinese Academy of Engineering, and Chairman of Sinopec, spoke in an exclusive interview with People’s Daily Online about new industrialization. He emphasized that it represents both continuity and innovation and that advancing new industrialization in the energy and chemical industry requires focusing on high-end development, intelligent transformation, and green transition.
Ma Yongsheng highlighted technological innovation as a driver for high-end development amid global energy system changes. "Advancing the high-end development of the energy and chemical industry necessitates elevating the value chain and added value of products," he stated. Efforts should be directed towards offering more high-quality technological solutions by strengthening R&D activities in key upstream oil and gas technologies. This includes developing pioneering refining technologies through fundamental theoretical research and aligning refining strategies with anticipated peaks in refined oil demand. Breakthroughs in key technologies for high-end chemical materials are essential alongside scaling up R&D for high-value-added products.
Digital-intelligent technologies are reshaping industrial ecosystems according to Ma Yongsheng. He noted that digital technologies and artificial intelligence enhance exploration efficiency in oil and gas resources. These innovations propel industries from molecular/desktop-based processes to digital refining while upgrading smart factories into interconnected plants. Ma Yongsheng said Sinopec will evaluate new-generation information technologies' support roles to transform traditional industries by building a revitalized ecosystem for petrochemicals.
Green initiatives were also discussed by Ma Yongsheng as nurturing new growth engines. Advancing green development involves strengthening carbon asset management and fostering low-carbon industries to cultivate emerging growth drivers continuously. The focus should be on optimizing industrial structures to reduce emissions while promoting sustainable growth from the source.
This report was excerpted from a feature by journalist Du Yanfei on people.cn.