Global Economic Confidence Index' survey report released

Saudi Basic Industries Corporation SABIC has worked with Caijing magazine and Caijing Think Tank for nearly 3 months to conduct a survey of the "Global Economic Confidence Index" for global economists, entrepreneurs, celebrities in the political, business, and financial sectors and opinion leaders. The report also paid special attention to the energy and chemical industries that have widely penetrated various sectors of the national economy, and jointly initiated the special investigation for the first time by authoritative institutions and experts such as the China Petroleum and Chemical Industry Federation.

Survey results

The epidemic has become the biggest black swan that has impacted the global economy. The 10-year global economic expansion cycle may end; affected by the substitution of internal demand, the changers believe that China's economy will face downward pressure for breakthroughs in 2020.

However, proportional investment and exports, and consumption as a ballast stone for economic growth will become more prominent, which is also an important direction for hedging the epidemic this year.

In the long run, the epidemic situation may lead to the initial decentralization of the global industrial chain pattern and the new trend of multi-centralization, which will bring new challenges to how to maintain China's manufacturing center and promote industrial upgrading.

Long-term improvement in the chemical industry

Li Lei pointed out that global economic confidence will be under pressure in 2020, and the chemical industry is expected to maintain a basically long-term positive trend after experiencing short-term shocks.

He further stated: "Human society has unintentionally triggered an unprecedented global epidemic because of the unprecedented close connection. With the neighbor as a steep and unfeasible retreat, the real way out should be collaboration and strengthening the existing close connection. The community of adjustment and the destiny of mankind should share the hope for the future. "

In addition to the global economic confidence index released this time, SABIC has continued to participate in a series of top-level dialogue platforms within the Boao Forum for Asia and the China High-level Development Forum, focusing on the building of thought leadership.

As a long-term partner to help China achieve inclusive growth, SABIC has also been committed to expanding its business scale in China.

Currently, SABIC has an advanced R & D center in Shanghai, 3 factories in Shanghai, Guangzhou and Chongqing, business scope in 14 cities in China, and a joint venture company with Sinopec in Tianjin-Zhongsha (Tianjin) Petrochemical Co., Ltd. Company (SSTPC).