The government of China’s Liaoning province wants to help industry develop high-performance greases for use in advanced equipment as part of a three-year economic development strategy focused on the chemicals industry.
The strategy, published March 2, sets a goal for chemicals industry investments in the province to reach ¥1.3 trillion (U.S. $204 billion) by 2024 and for Liaoning to become a world class hub of activity in that field.
Located in Northeast China on the northern coast of the Yellow Sea, Liaoning already has a significant oil refining industry. The city of Dalian is one of the main operational hubs of oil and gas giant PetroChina and the province hosts a number of other refiners such Hengli Petrochemical.
The provincial government wants to develop the chemicals industry as a way of lessening dependence on petroleum products such as fuels, which could decline because of the sustainability movement.
The strategy is wide ranging, seeking to increase the province’s supply base for basic petrochemicals such as ethylene, propylene and terephthalic acid while also encouraging investments in production of 11 categories of more highly refined and higher value-added chemicals.
By 2024 the government wants the size of its chemicals refining base to significantly exceed its fuels supply base.
The plan singles out high-performance grease as one of many areas where it wants to encourage product innovation.