On January 15 (local time), through the joint efforts of the economic and trade teams of China and the United States, both sides formally signed the first stage economic and trade agreement in Washington on the basis of equality and mutual respect. It emerged that this caused a good reaction in the capital markets. The first stage economic and trade agreement made the market long-awaited "boots" finally landed. It is generally believed that in the industry that reaching the first stage economic and trade agreement is beneficial to China, the United States and the world.

The first stage of the China-US economic and trade agreement has reached consensus in many aspects, as well as in the world market. According to the text of the agreement, China will fulfill more of its commitments to the United States, which are broadly in line with China's reform and development goals and directions. These commitments will not only help international companies, including American companies, expand their business in China, but also help domestic companies innovate and reduce disorderly competition.

The economic and trade agreement between China and the United States protects both American and Chinese companies, and both American and Chinese investment. As the world's two largest economies, an effective and stable agreement between China and the United States is bound to benefit the global economy. For example, for the petrochemical industry, if international petrochemical companies invest heavily in China, the trade agreement between China and the United States will become a strong guarantee for them, providing them with cheap resources of the United States and vast markets in Asia and North America.

However, due to the spread of COVID-19 epidemic in the world, China and the United States have become the hardest hit areas of COVID - 19 epidemic. The international market has not had time to enjoy the dividend of the Sino-US trade negotiations, but has fallen into a more serious recession. Especially since March, COVID-19 epidemic has been spreading in Europe and the United States, bringing more uncertainty to the market trend. The uncharacteristic number of stock market fusing suggested the market was in a funk not seen in years. But the epidemic will pass, and the global economy will recover. By then, the outcome of negotiations between China and the United States will be crucial to the recovery of the global economy.

For the global petrochemical industry in the post-epidemic period, a good market environment is needed to escort the slow recovery of demand. The economic and trade agreement between China and the United States is exactly the agreement that can maintain a sound market environment. China and the United States, the two largest economies in the world, are actually a community of shared interests in international trade. In the future, as long as China and the United States abide by the WTO rules, they will eventually contribute powerful forces to the world market.