MIIT requires the industry to carry out the "action plan" to accelerate the development of carbon fiber industry, accelerate the construction of carbon fiber industry organizations, to promote the application of carbon fiber and its composite materials in the important fields of aerospace, power cable, wind power, and automotives.

In addition, MIIT requires the industry to accelerate the promotion of high performance membrane material, high-grade lead-free paint, the chlorination process titanium dioxide and other high-end petrochemical product development.

The report also expected in 2014, the petroleum and chemical industry main products demand will maintain a moderate growth. The overall level of prices will maintain flat or rebounding back, the industry overall economy will remain relatively stable situation.

The cost of running the economy is high, since 2013, in spite of coal and other part of raw materials prices lower, but the laber, electric power, transportation, environmental protection and other costs rise, leading to the overall cost of running high. From January to December last year, the oil and chemical industry main business cost reached US$1.8 trillion (10.8 trillion Yuan), a year-on-year growth of 9.9%, 0.93 percentage points higher than the main business revenue growth.