Supply-side reform invigorates old State-owned companies

SHENYANG - Supply-side reform has been reinvigorating State-owned enterprises across the nation, but it is not all plain sailing. Due to the strict quality standards required for such products, few Chinese companies are able to produce the material needed for the caps of mineral water bottles, but Fushun Petrochemical has proved an exception to the rule.

In June 2016, after much research, an alkene plant for the company produced 2,000 metric tons of white bead-like material for the first time. The substance has been used to make bottle caps by top domestic drink brands, such as Nongfu Spring.

"Our target is a monthly capacity of 10,000 tons, estimated to bring revenue of 60 million yuan ($9 million) a year," said Li Tianshu, general manager of Fushun Petrochemical, a company in Northeast China's Liaoning province that goes back more than 80 years.