聚焦“双放开”后的中国成品油市场——访邓郁松、王旭东、伍锡峰

China's post-deregulation refined oil market——Interview with Deng Yusong, Wang Xudong and Wu Xifeng

为使读者更好地把握“双放开”后国内成品油市场的发展脉络,本刊约请国务院发展研究中心市场经济研究所综合研究室主任邓郁松、北京石油管理干部学院油品营销与加油站管理研究所所长王旭东、暨南大学法学院伍锡锋就“双放开”后的市场特点、发展态势、体制机制、新格局下的企业营销策略等问题发表了自己的见解。

As part of its commitment made for accession to the WTO, China deregulated its refined oil wholesale market by the end of 2006 as scheduled, after it did the same to its refined oil retail market in 2004. This deregulation brought with it more foreign oil companies into theChinese refined oil market theretofore populated by national or smaller private Chinese oil companies - a trend that raised the standards of market players in business philosophy and ways of doing business, and improved the role of government in market supervision and regulation as well as distribution and utilization of oil resources. To gain more insight into development trends in the Chinese refined oil market, we at International Petroleum Economics interviewed such veteran oil experts as Deng Yusong, market economyresearch director at the State Council Development Research Center, Wang Xudong, head of the Oil Product Marketing and Gas Station Management Center at the Beijing Petroleum Managers Training Institute, and Mr. Wu Xifeng with Jinan University Law School, and others for their views on the market. 1. Post-deregulation market. The opening of the Chinese refined oil retail and wholesale markets to the outside drew a flock of foreign oil companies into China bringing with them cutting-edge know-how, equipment and business experience. Removal of the barriers to market access is expected to lessen the strain on resources, with increased focus on branding, service and innovation as competitive advantages. Foreign oil companies plus CNPC and Sinopec will continue focusing on the high-end and middle market segments while the smaller private Chinese oil firms will target the low-end market. Cooperation and shared development are expected to be the theme of the refined oil distribution industry in 2007 and years to come. 2. Market competition and development trends. A level playing field will enable more market participants to extend their business activity along the industry chain. Efficient suppliers, oil refineries and oil wholesalers and retailers in particular will have more opportunities available for business development. But CNPC, Sinopec and foreign oil companies are expected to dominate market competition, while the smaller private businesses, though constituting the majority of market players, are unlikely to have a big role to play in market competition or development in the next few years given their limited brand recognition, size of operation, and access to resources. 3. Solving problems in systems and institutions. The release of Regulations on the Refined Oil Market and Crude Oil Market and Guidelines for Crude and Refined Oil Companies marks a big breakthrough in China's efforts to widen outside access to its oil market, level the playing field, and diversify the market players. But the market is still not fully deregulated, as further work is needed on efficient market access and exit mechanisms, and non-technology barriers need to be lowered while qualification checking and supervision need to be reinforced. And the resources that should be distributed by the market will be gradually transferred to it forallocation. Additionally, price controls will be phased out when conditions permit, while oil products for essential services and those stored as strategic reserves will be brought under different management. 4. Challenges faced by smaller private businesses. Given the intensifying market competition, the smaller private oil companies need as soon as possible to start strategic restructuring by merging with their peers to increase market share and improve their supply chain management, by partnering with big oil companies, by altering the nature of their assets, or by shifting the focus of their business. 5. Marketing strategies in the new landscape. The focus of refined oil retailers in overseas markets has shifted from product supply, to distribution networks, to quality and brand, and to business innovation now. Chinese oil retailers might draw on value innovation, business extension, cost efficiency, service promotion and brand recognition to sharpen their competitive edge besides the traditional step of lowering price. 6. Emerging trends in developed overseas markets and implications for China. The latest trends emerging in developed overseas oil markets are: converting oil-product retailers into commodity retailers; wide application of information and automation technologies to slash labor cost and increase productivity and accuracy; more focus on product differentiation; formation of a new retail culture; and change by retailers in their service patterns by reaching out to communities. While these trends cannot simply be transplanted to China given the vast soil & climate difference with the developed world in terms of national conditions and level of economic development, they do point in the direction the refined oil market is headed in.