Private firms should unblock supply chain for breakthrough in COVID-19

07:19

Private companies need to remove the blocks in the industrial supply chain to reach a breakthrough and survive the difficulties caused by the unexpected epidemic, a member of the 13th National Committee of the Chinese People's Political Consultative Conference said on Sunday.

"Stabilizing the industrial supply chain would protect private companies, and help maintain employment and people's livelihood," said Zhu Jianmin, chairman of Liaoning Oxiranchem Inc., a high-tech industrial company selling ethylene oxide derivative fine chemicals.

The group's profits fell sharply in the first quarter of this year in the face of a downturn in the market. But with tactics in stabilizing the industrial supply chains and the technology of ethylene oxide sterilization in developing new chains, its production and sales volume resumed in April, with the promise of further improvements in May.

In one month, the company has unblocked the industrial supply chain, cooperated closely with upstream suppliers such as Sinopec and PetroChina, and received strong support from the central SOEs. It has effectively suppressed the risk of falling prices and ensured the supply of raw materials.

Meanwhile, it also contacted with downstream enterprises and adopted a review mechanism for sales price to relieve pressure on major customer enterprises. The group has also taken advantage of its innovative technology to develop new industrial supply chains. It has adopted a new technology of ethylene oxide sterilization to support epidemic prevention and control.