Zhang Yaocang

(Vice Chairman of the Board, Sinopec Group)

Author

Zhang Yaocang is Vice Chairman of the Board, Vice President, and member of the Party Committee of Sinopec Group. Mr. Zhang is also Vice President of the China Overseas Development Association; Deputy Managing Director of the National Committee of Earth Science Philosophy; Vice President of the China Association of Circular Economy; Vice President of the Chinese-Arab Friendship Association; a member of the China-Russia Friendship, Peace and Development Committee; a professor-level senior engineer; and an academician at the Russian Academy of Sciences. Mr. Zhang has published many important papers including On How to Manage Relations in China Petroleum Industrial Development, Chinese Characteristics in a Socialist Market Economy, and China's Petroleum and Gas Industry and Market Access. Mr. Zhang has led several research projects funded by the National Social Science Foundation and has helped to create a theory underlying mining philosophy. Mr. Zhang has made a significant contribution to the development of China's petroleum and petrochemical industry.

Abstract

The Silk Road Economic Belt aims to push forward the cause of reform and opening up while advancing China's diversification strategy. At the same time, it will establish a brand new national security strategic system. Its political relationships, geographical adjacency and economic complementary advantages will allow the region to achieve sustainable cooperation and growth, foster common prosperity, benefit from complementation, and see a further strengthening of its overall competitiveness. By first starting to work with individual areas, this project will grow to cover the whole region.The Silk Road Economic Belt will facilitate the ongoing industrial upgrading in the world's largest developing country, boost economic growth in China's central and western regions, promote foreign investment and cooperation, and exploit the overseas market. Additionally, it will serve to drive the recovery of countries along the Belt, transforming people's hopes for a better life into a reality.China has carried out a series of multi-layer cooperative endeavors with countries along the Belt in oil gas, coal, natural gas and new energy – a monumental effort that has won international recognition. Energy cooperation between China and Central Asian countries is a typical example of the pragmatic cooperation between China and its neighbors. Prospective energy partnerships will not only meet China's energy demand in its development, but also shore up energy development in Central, South and West Asia and Russia.Countries along the Belt as well as China possess favorable oil and gas facilities, laying a solid foundation for the development of their energy industries. In the field of oil and gas, China has created benign cooperation models and accumulated valuable experiences, which will set a good example for cooperation in the exploration and exploitation of oil and gas, refinery joint ventures, petroleum engineering technology services, and technical refining services.As a state-of-the-art energy multinational, China Petroleum and Chemical Corporation (Sinopec)'s international cooperation is not limited to the transportation of oil and gas. It has now expanded into exploration and development, refining and processing, technical services, and personnel training, leading to mutually beneficial, win-win results, common prosperity and sustainable development. Sinopec will play a leading role in its energy cooperation with countries along the Belt, following the principles of complementing each other's advantages, serving mutual benefits and achieving win-win outcomes. It will reinforce and expand oil and gas partnerships, provide engineering technologies, foster cooperation in petroleum engineering and refine engineer technical services, intensify scientific and technological innovation and the research and development of engineering technologies, and strength international talent exchanges and cooperation.