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RONGSHENG PETROCHEMICAL CO., LTD. is a China-based company principally engaged in the research, development, manufacture and distribution of chemicals and chemical fibers. The Company’s main products include aromatics, phosphotungstic acid (PTA), polyethylene terephthalate (PET) chips, terylene pre-oriented yarns (POYs), terylene fully drawn yarns (FDYs) and terylene draw textured yarns (DTYs), among others. The Company distributes its products in domestic market and to overseas markets.

The moomoo app is an online trading platform offered by Moomoo Technologies Inc. Securities, brokerage products and related services available through the moomoo app are offered by including but not limited to the following brokerage firms: Moomoo Financial Inc. regulated by the U.S. Securities and Exchange Commission (SEC), Moomoo Financial Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS), Futu Securities International (Hong Kong) Limited regulated by the Securities and Futures Commission of Hong Kong (SFC) and Futu Securities (Australia) Ltd regulated by the Australian Securities and Investments Commission (ASIC).

Registered with the Monetary Authority of Singapore (MAS), moomoo SG is a Capital Markets Services Licence (Licence No. CMS101000) holder with the Exempt Financial Adviser Status. Moomoo SG has been admitted as Clearing Member of The Central Depository (Pte) Ltd (CDP) , Trading Member of Singapore Exchange Securities Trading Limited (“SGX-ST”), Trading and Clearing Member of Singapore Exchange Derivatives Trading Limited (“SGX-DT”), and Depository Agent of CDP.

SINGAPORE — China’s oil demand is expected to rebound next year as Beijing eases COVID-19 restrictions, a senior refining executive said on Wednesday. We apologize, but this video has failed to load. Try refreshing your browser, or

Gasoline consumption is expected to pick up while jet fuel demand may take longer to recover, Chen Hongbing, deputy general manager at Rongsheng Petrochemical told a forum at the 38th Annual Asia Pacific Petroleum Conference (APPEC). Financial Post Top Stories

Rongsheng Petrochemical Co., Ltd. engages in the research, development, production, and sale of chemical, oil, and polyester products. It offers gasoline, diesel fuel, kerosene, paraxylene, ethylene glycol, styrene 156, m-xylene, polyethylene, polypropylene, EVA, polycarbonate, ABS, PTA, PIA, filament, bottle flakes, and film. The company also offers olefins and their downstream, aromatics and their downstream, oil products, etc., which are widely used in covering new energy, new materials, organic chemicals, synthetic fibers, synthetic resins, Synthetic rubber, oil products, and other fields. The company was founded in 1995 and is based in Hangzhou, China. Rongsheng Petrochemical Co., Ltd. is a subsidiary of Zhejiang Rongsheng Holding Group Co., Ltd.

China"s refiners are optimistic about the likelihood of economic recovery in Asia"s top consuming country in the fourth quarter and into 2023 as pandemic control measures ease, helping to boost domestic oil product demand, according to the China-focused panel discussion at the S&P Global Commodity Insights Asia Pacific Petroleum Conference in Singapore Sept. 28.

"The toughest moment has passed. Restoring consumers" confidence is what the government needs to do and is doing," said Sun Xin, a director with Shenghong Petrochemical International, a trading desk of the greenfield Shenghong Petrochemical refinery complex in Jiangsu province.

"We have seen some green shoots already in China"s economy. Especially in September, we see more congestion in terms of transportation. We see a better run rate at the refineries," said Chen Hongbin, deputy GM of Rongsheng Petrochemical (Singapore).

Rongsheng is a trading arm of the privately-held refining complex Zhejiang Petroleum & Chemical, which restarted its 200,000 b/d No.4 CDU in last week after operations were suspended for seven months, and lifted run rates to around 95% of its nameplate capacity of 800,000 b/d from 83% in August, S&P Global data showed.

Petrochemical-oriented refineries with integrated value chains and economies of scale are expected to survive the intensive competition amid capacity surplus, the panelists said.

Wu said China"s new refineries were integrated with high yields of petrochemical products to replace imports when oil product demand growth slows, ruling out the small and simple refineries.

Beijing has set a target of capping China"s refining capacity at 20 million b/d in 2025. PetroChina"s 400,000 b/d Guangdong Petrochemical and the 320,000 b/d Shenghong Petrochemical refineries are scheduled to commission in 2022, while around 149,000 b/d of independent refining capacity was set to be phased out, S&P Global data showed.

Sun noted that refining and petrochemical bases help to lower transaction and logistics costs and maximize scale, while expanding the business chain to renewable energy, CCUS projects and new materials will help the company to compete in the future.