His report is mainly divided into three parts:

The first part, the new characteristics of the development of China's PET bottle chip industry in 2023. Mr. Guo pointed out that the PET bottle chip industry is showing new features such as a huge amount of capacity, gradual recovery of downstream demand, more players entering the market, re-promotion of overseas investment plans, significant compression of spread, differential product R&D, increase in export trade barriers and expansion of industry concentration.

The second part is about the characteristics of overseas markets and global trade circulation. Mr. Guo explained that in 2022, the operating rate of Asian units generally stayed at a high level, while that of Europe and the US declined significantly. The market share of Europe and the US gradually transfers to Asian suppliers, and the European and US markets' dependence on Asian raw materials has hit a historical high. In addition, under the influence of factors such as seasonal procurement and price-only theory, the downstream stocking cycle has been disrupted.

The third part is the new challenges faced by the PET bottle chip market. In the next few years, a large amount of PET bottle chip capacities both at home and abroad will be put into operation. However, in recent years, the growth in demand is far behind the start-up of new capacities. New investment from overseas will gradually fill the supply gap, and the pressure on the industry will gradually increase. Finally, in the face of recent changes and future trends in the industry, Mr. Guo put forward development suggestions for suppliers, traders and end-users in the PET bottle chip industry.