Business Club August 17th August 15th, Sinopec Group Company held its first "Social Supervisor Conference." Fu Chengyu, chairman of Sinopec, faced the sensitive issues of the supervisors and responded that Sinopec was willing to promote the marketization of oil prices.
The responsible person of a large-scale central government responds to the public's "sensitive issues" with such a gesture. This practice is commendable. The so-called sensitive issue is just the public's doubt about the pricing mechanism of oil prices and the high oil prices. Fu Chengyu's response was frank: The pricing mechanism was explained by the National Development and Reform Commission, and Sinopec was willing to promote the marketization of oil prices.
Such a response not only shows how the price of oil is irrelevant to Sinopec, but also reveals Sinopec's willingness to price oil prices on a market basis.
But obviously, the realization of this will is more difficult.
The so-called marketization, the price of the market, this "city" is to have a multi-competitive market, through the competition between enterprises, and ultimately reach a market willing to accept the price of all parties. In other words, there must be multiple suppliers of refined oil products. There is competition between them and it is possible to realize real marketization of oil prices.
At present, there are no such conditions in the domestic market. Upstream and downstream industrial chain of refined oil products, basically under the control of two giants, is still difficult to form effective competition. In this context, if the marketization is implemented, it is very likely that the two giants will give a "cost", and then stare closely at a certain price on the international market and move up and down. This kind of so-called marketization has obvious disadvantages. The cost is not transparent, and there is no sufficient competition, and the cost cannot be reduced. It is very likely that eventually the price of refined oil will be higher than before the "marketization."
The responsible person of a large-scale central government responds to the public's "sensitive issues" with such a gesture. This practice is commendable. The so-called sensitive issue is just the public's doubt about the pricing mechanism of oil prices and the high oil prices. Fu Chengyu's response was frank: The pricing mechanism was explained by the National Development and Reform Commission, and Sinopec was willing to promote the marketization of oil prices.
Such a response not only shows how the price of oil is irrelevant to Sinopec, but also reveals Sinopec's willingness to price oil prices on a market basis.
But obviously, the realization of this will is more difficult.
The so-called marketization, the price of the market, this "city" is to have a multi-competitive market, through the competition between enterprises, and ultimately reach a market willing to accept the price of all parties. In other words, there must be multiple suppliers of refined oil products. There is competition between them and it is possible to realize real marketization of oil prices.
At present, there are no such conditions in the domestic market. Upstream and downstream industrial chain of refined oil products, basically under the control of two giants, is still difficult to form effective competition. In this context, if the marketization is implemented, it is very likely that the two giants will give a "cost", and then stare closely at a certain price on the international market and move up and down. This kind of so-called marketization has obvious disadvantages. The cost is not transparent, and there is no sufficient competition, and the cost cannot be reduced. It is very likely that eventually the price of refined oil will be higher than before the "marketization."
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