It is said that Sinopec Group may have obtained approval from the government for financial subsidies for the refining sector, but the amount of subsidies has not yet been disclosed. The reporter interviewed the petrochemical industry personnel on the 26th and was informed that this time Sinopec’s huge subsidies have reached a foregone conclusion. In 2007, Sinopec’s refining sector losses were even greater than in 2006, and the external rumored subsidies will be more than 10 billion yuan. It is reported that at the end of 2007, Sinopec and PetroChina’s dual two-way countries applied for financial subsidies, but CNPC has not yet received a grant approval.
In 2005 and 2006, Sinopec received national financial subsidies of 10 billion yuan and 5 billion yuan respectively. If this subsidy is in place, this is the third time that Sinopec has received state financial subsidies. When this news came out, it again caused a groan on the Internet. Many netizens sent a series of queries and even questions about the general trend of flooding. Why should the state finances use huge sums of money to compensate an independent company? Why does the company have to make up for losses and why should all the taxpayer's money be used to make up for it? There is a substantial profit as a whole. Why should I enjoy subsidies? In my opinion, this is actually a kind of misunderstanding.
Why should the central government give Sinopec huge subsidies? On the surface, just because domestic oil prices and international prices are upside down, Sinopec's refining sector has long been in a loss situation, and Sinopec has filed a strong application; in fact, otherwise. In my opinion, the central government’s move was in fact using the form of fiscal subsidies to maintain a certain degree of 'regulation and suppression' of current and future oil prices in the context of high international crude oil prices, and to maintain domestic oil prices. Rising or slowly rising. In the long run, all people will eventually benefit.
Admittedly, as a company, Sinopec’s losses can only be resolved by itself, but we must also realize that Sinopec’s losses also exist in response to the country’s macroeconomic controls and strictly maintain a stable oil price. It is not independent pricing; it is true that it is digesting oil refining business. After the loss, Sinopec still has substantial profits, but it is also necessary to clearly realize that overall profits and losses in the refining sector are two different things. Sinopec is a state-owned enterprise. Even if it is a refining loss, it must also develop sufficient production to ensure domestic supply, but Sinopec is also It is also a listed company. The main investors have been diversified. They are responsible for the shareholders. If the refinery obviously has no money to make, it also imports high-priced crude oil and starts processing at full capacity, which is not in the interests of shareholders. Therefore, with the domestic crude oil market price and further international integration, if there is no state subsidies, Sinopec is bound to automatically follow the rise in international oil prices in order to reverse losses.
China has entered the stage of heavy chemical industry. Compared with the early 1990s, the dependence of economic growth on energy and crude oil has increased significantly. According to statistics, if crude oil prices rise by 30% for the whole year, it will increase the general price level by 1.5%, the price of investment goods by 0.9%, and the price of consumer goods by 0.7%. To get rid of the impediments of international crude oil prices for China's economic development, we must maximize the maintenance of the relative stability of domestic oil prices.
Therefore, the central government's subsidy to Sinopec is not a kind of "beloved" and "connivance" for Sinopec, but a strategic consideration for the overall economic development. It will play a positive role in stabilizing domestic oil prices, stabilizing the stock market, stabilizing prices, and balancing the exchange rate of the RMB. We should take away the emotional sunglasses. We must not take it for granted. We must entangle ourselves with the appearance that the central government should subsidize Sinopec and lose its basic rational judgment.
In 2005 and 2006, Sinopec received national financial subsidies of 10 billion yuan and 5 billion yuan respectively. If this subsidy is in place, this is the third time that Sinopec has received state financial subsidies. When this news came out, it again caused a groan on the Internet. Many netizens sent a series of queries and even questions about the general trend of flooding. Why should the state finances use huge sums of money to compensate an independent company? Why does the company have to make up for losses and why should all the taxpayer's money be used to make up for it? There is a substantial profit as a whole. Why should I enjoy subsidies? In my opinion, this is actually a kind of misunderstanding.
Why should the central government give Sinopec huge subsidies? On the surface, just because domestic oil prices and international prices are upside down, Sinopec's refining sector has long been in a loss situation, and Sinopec has filed a strong application; in fact, otherwise. In my opinion, the central government’s move was in fact using the form of fiscal subsidies to maintain a certain degree of 'regulation and suppression' of current and future oil prices in the context of high international crude oil prices, and to maintain domestic oil prices. Rising or slowly rising. In the long run, all people will eventually benefit.
Admittedly, as a company, Sinopec’s losses can only be resolved by itself, but we must also realize that Sinopec’s losses also exist in response to the country’s macroeconomic controls and strictly maintain a stable oil price. It is not independent pricing; it is true that it is digesting oil refining business. After the loss, Sinopec still has substantial profits, but it is also necessary to clearly realize that overall profits and losses in the refining sector are two different things. Sinopec is a state-owned enterprise. Even if it is a refining loss, it must also develop sufficient production to ensure domestic supply, but Sinopec is also It is also a listed company. The main investors have been diversified. They are responsible for the shareholders. If the refinery obviously has no money to make, it also imports high-priced crude oil and starts processing at full capacity, which is not in the interests of shareholders. Therefore, with the domestic crude oil market price and further international integration, if there is no state subsidies, Sinopec is bound to automatically follow the rise in international oil prices in order to reverse losses.
China has entered the stage of heavy chemical industry. Compared with the early 1990s, the dependence of economic growth on energy and crude oil has increased significantly. According to statistics, if crude oil prices rise by 30% for the whole year, it will increase the general price level by 1.5%, the price of investment goods by 0.9%, and the price of consumer goods by 0.7%. To get rid of the impediments of international crude oil prices for China's economic development, we must maximize the maintenance of the relative stability of domestic oil prices.
Therefore, the central government's subsidy to Sinopec is not a kind of "beloved" and "connivance" for Sinopec, but a strategic consideration for the overall economic development. It will play a positive role in stabilizing domestic oil prices, stabilizing the stock market, stabilizing prices, and balancing the exchange rate of the RMB. We should take away the emotional sunglasses. We must not take it for granted. We must entangle ourselves with the appearance that the central government should subsidize Sinopec and lose its basic rational judgment.
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