The inevitable opportunity of coal chemical energy substitution is huge and investment is ready to go

With the release of the "Mid-Term and Long-Term Development Plan for the Coal Chemical Industry," a significant wave of investment in new coal chemical projects is about to begin. Rising crude oil prices and China's energy structure, which heavily relies on both coal and oil, are further accelerating the growth of this sector. Given China's current reliance on imports of gasoline, diesel, olefins, and resin raw materials, the new coal chemical industry has substantial potential for expansion. From the perspective of China’s national energy strategy, coal remains a fundamental pillar of the country's energy development. As a strategic component of modern coal chemical industry, the resource conditions make it difficult to shift away from a coal-based energy structure in the long term. With China's low oil reserves and limited production capacity, energy security is at risk, making alternative energy sources an unavoidable necessity. Developing the coal chemical industry as a means to promote cleaner coal utilization is not only essential but also holds great promise for sustainable growth. As industrial policies continue to be introduced, China's modern coal chemical industry is entering a new phase of development. The expansion of the industry will bring more investment opportunities and growth potential to related listed companies. Industry analysts currently expect that during the "Eleventh Five-Year Plan" period, existing capacities will be implemented. The total investment under construction exceeds 320 billion RMB, with some more optimistic projections reaching over 600 billion RMB. Even if only 70% of these projects are realized, the total investment would still surpass 400 billion RMB. In the long run, coal-to-oil and coal-to-olefins technologies are key areas of focus. However, due to their large capital requirements and strategic importance, their development will be led by large-scale enterprises. Analysts are particularly optimistic about the advantages of integrating energy and chemical industries, with China Shenhua seen as a leading player in this space.

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