Research On The "Going Global" Practice Of China's Petrochemical Enterprises

As the pillar industry of our country,petrochemical industry plays an important role in our national economy.The production line of petrochemical industry is long,and a series of products produced involve many range of national economy and people's livelihood.Although China's petrochemical industry has developed rapidly after years of development,and the total economic volume of petrochemical industry is also in the forefront of the world,the petrochemical industry of our country has also appeared many challenges in the process of continuous development,such as the international environmental turbulence,the increasingly prominent domestic overcapacity,and the enterprises' innovation ability need to be improved,which has forced our petrochemical enterprises to change the way of development to improve the competitiveness of enterprises to meet the severe challenges.Except for In addition,although China is a large resource country,but the limited crude oil,natural gas and other energy resources cannot meet the growing demand,even need to rely on imports to obtain.Therefore,in order to obtain the shortage of energy resources,broad market and improve the competitiveness of petrochemical enterprises,it is necessary for our petrochemical enterprises to "going global ".However,as more and more petrochemical enterprises in our country focus on the international foreign investment process,not only bring opportunities,but also bring a lot of challenges,resulting in our petrochemical enterprises in the process of foreign investment suffered great losses.Based on this,the present situation and existence of "going global" in petrochemical enterprises in China are analyzed and studied The question of how to deal with it effectively is necessary.The main purpose of this paper is to deeply explore the successful experience of petrochemical enterprises "going global" with the help of specific cases,so as to provide reference for the foreign investment of petrochemical enterprises in China,so as to promote the better development of petrochemical industry in China.Through reading literature statistics and other methods,we can deeply analyze the current situation and existing problems of "going global" in petrochemical enterprises in China,and use case analysis to sum up the investment experience of foreign investment practice,etc.According to the research topic,this paper first introduces the theories of international direct investment theory,strategic alliance theory,internationalinvestment risk management and so on,and takes it as the theoretical basis of the full text.Then from the motivation,scale,mode,geographical distribution,characteristics,management performance of the six aspects of the overall analysis of our petrochemical enterprises "go global" status quo,and then from the investment process and business process from the two angles to clarify the "go global" process of petrochemical enterprises in China.Then this paper chooses Hengyi Petrochemical as the research object,and takes the concrete practice of Hengyi Petrochemical's investment in Brunei as a case study.Based on the opportunity and challenge of capital,the successful experience of Hengyi Petrochemical's overseas refinery project investment in Brunei is summarized.Finally,in view of the existing problems of "going global" in china's petrochemical enterprises,and combining with the experience of "going global" in hengyi petrochemical,the corresponding practical suggestions can be summed up,which can provide reference for the petrochemical enterprises who are "going global" or intend to "go global" in our country,in order to guide the petrochemical enterprises to "go global" better.To sum up,when deploying international market and participating in international competition,petrochemical enterprises in our country should formulate investment strategy in line with the development of their own enterprises.Investment early to do a good job of full investigation and demonstration and planning.In addition,creating intelligent petrochemical enterprises to improve the ability of scientific and technological innovation and to cultivate complex talents has always been an important magic weapon for petrochemical enterprises to improve their core competitiveness in the international market.Finally,overseas social responsibility is not only reflected in the protection of the environment,but also the energy security of the host country.In addition,the government's policy support,energy diplomacy and the establishment of alliances at the level of trade associations and the platform for providing information exchange can provide a strong guarantee for our petrochemical enterprises to invest in the international operation.Only in this way,we can give advice for our petrochemical enterprises to "go global" and reduce the cost of expanding overseas markets to improve their investment efficiency.