Petrochemical firms see bright prospects

Private entrepreneurs from the petrochemical and chemicals sector in East China's Shandong province have pledged to integrate high-quality resources, technology and innovation into their production to replace energy-consuming and high pollution projects with high-tech and environment friendly ones.

The entrepreneurs said they were encouraged by President Xi Jinping's speech at a meeting with some private entrepreneurs in Beijing on Nov 1, in which Xi stressed that China will unswervingly encourage, support and guide the development of the nonpublic sector. Xi also put forward six measures to support the private sector.

Li Xiangping, chairman of Dongming Petrochemical Group, an oil refining company, said the president's speech has injected vitality to the private sector and made him confident about Dongming's future development.