Mr. You noted that China accounts for 50% of the global PET production capacity, with newer facilities and lower costs. However, the rapid expansion after 2022 has led to domestic oversupply. By 2025, domestic demand is projected to be only 8.6 million metric tons, while dependence on exports may rise to 42%.

PET exports are driven by domestic overcapacity, cost advantages, and policy support, alongside opportunities from regional initiatives such as the Belt and Road Initiative. Nevertheless, the low-price export model has triggered frequent trade friction, with many countries imposing anti-dumping duties on Chinese products, posing major external challenges.

Mr. You emphasized that addressing internal competition requires multiple strategies: first, industry self-regulation and phasing out outdated capacity; second, developing new high-value-added products and channels; and third, Chinese producers proactively expanding overseas to get closer to markets and circumvent trade barriers.

In conclusion, Mr. You pointed out that short-term adjustments are inevitable, and market forces may need to phase out inefficient capacity to achieve rebalancing. In the long run, China's PET industry may need to shift from purely exporting products to globalized operations, learning from successful peers and investing in key overseas markets.