The "anti-monopoly law" was formally implemented on August 1, which means that China has stepped up anti-monopoly work. What impact will this move have on the oil and chemical industry? On August 4, the reporter interviewed relevant agencies and companies in the oil and chemical industry. It is widely believed that the implementation of the “Anti-Monopoly Law†helps to clarify the existing The problems existing under the system have fully promoted the healthy development of the petroleum and chemical industries.
Gu Zongqin, director of the Institute of Petroleum and Chemical Industry Planning, said that the implementation of the "Anti-Monopoly Law" will promote the healthy and sustainable development of the petroleum and chemical industries. "There is no development without competition." This is also the purpose of the "Anti-Monopoly Law." He pointed out that the "anti-monopoly law" is a product monopoly rather than a technical monopoly, but in reality it is difficult to distinguish between what is a product monopoly, what is a technical monopoly, but companies take the road of technological innovation is not wrong.
An industry analyst pointed out that the "Anti-Monopoly Law" only defines whether the operator has a dominant market position. According to the Anti-Monopoly Law, the three major oil companies can be presumed to have a dominant market position. However, the “Anti-Monopoly Law†does not put forward rigid indicators on how to break the monopoly, for example, it stipulates that the market share of a company in the relevant market must be below 25%. It is understood that relevant departments have made suggestions in this regard but have not been adopted.
Experts from PetroChina and Sinopec Institute of Economics and Technology said that China’s current oil market is an open and diversified non-regulated market. There is no so-called “industry monopoly†in which large state-owned companies dominate the world. The price formation mechanism of China's oil market is essentially government pricing and cannot truly reflect the supply and demand relationship in the domestic market. Experts believe that oil is not only a competitive commodity, but also an important strategic resource related to economic development, social stability, and national security. Therefore, China's oil market should be a state-owned oligopoly under effective supervision.
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