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Rongsheng Petrochemical becomes model for Chinese entrepreneurs to emulate, awarded with multiple achievements
2022/12/30 10:26:08

Dec 30, 2022 (China Knowledge) - Last Friday, the 6th World Zhejiang Entrepreneurs Convention opened with much fanfare in China’s most entreprenurial province. Zhejiang Rongsheng Holding Group was once again awarded the "Leading Enterprise for High-Quality Development", which is the second consecutive time that group has won this award. The award comprehensively evaluates performance of enterprise in terms of industry scale, operation efficiency and social contribution.

The convention is the largest, highest-level, and most influential event among entrepreneurs in Zhejiang Province, and it is strongly supported by the local government. Since 2011, it has been held every other year and has been successively launched for the sixth time.

As one of the world's leading companies with high-quality development in the Zhejiang, Rongsheng has been deeply involved in business of petrochemicals, and produces high value added advanced new materials for the indusry as its strategic core.

This year, despite unfavorable conditions such as rising crude oil prices, the Russo-Ukraine War, and repeated pandemics, Rongsheng still maintained a strong tencity in development. At the end of 2019, as the first phase of the 40 mln ton per annum (T/A) integrated refining and petrochemical project of Zhejiang Petroleum & Chemical (ZPC), a subsidiary of Rongsheng Petrochemical (002493), got into operation, Rongsheng became one of the few in the industry that commands a complete petrochemical industry’s supply chain. In January this year, the second phase of the project was fully put into operation, further consolidating and upgrading the industrial chain.

Its “vertical and horizontal strategy” is commonly known for its trump card in Rongsheng's development and growth. The inter-network of its vertical supply chain has achieved great success which will eventually lead to the development of new industries horizontally.

During the award ceremony the organiser reitarated Rongsheng’s success from “a small weaving factory to a giant private textile enterprise, and has become a trendsetter in the industry”.

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