Feb 28, 2023 (China Knowledge) - Zhejiang Petroleum and Chemical (ZPC), a subsidiary of Rongsheng Petrochemical (002493), has been named outstanding enterprise by the National Intelligent Manufacturing Pilot Demonstration Project for 2022. The project, a joint initiative of the Ministry of Industry and Information Technology (MIIT), the National Development and Reform Commission (NDRC), the Ministry of Finance (MoF), and the State Administration for Market Regulation (SAMR), aims to promote intelligent manufacturing in China.

Zhejiang Petroleum and Chemical's "Equipment Fault Diagnosis and Detection System" performed in various scenarios was chosen as an outstanding example of intelligent manufacturing. It uses cutting-edge technologies such as the Internet of Things (IoT) and cloud computing to monitor real-time equipment performance, detect early warning signs of faults, and accurately diagnose and predict equipment failures. This approach minimizes resource consumption and ensures safe and reliable equipment operation. It also improves the efficiency of equipment maintenance, prevents equipment failure from deteriorating, and raises the level of equipment performance.

The recognition of ZPC's achievements in intelligent manufacturing is a significant milestone for the company. Its inclusion in the National Intelligent Manufacturing Pilot Demonstration Project demonstrates its commitment to innovation and excellence in the industry. It also reinforces the company's position as a leading player in petrochemical sector.

As China's economy continues to grow and modernize, the government is pushing for more intelligent manufacturing solutions to increase productivity, improve product quality, and reduce costs. ZPC’s success in the National Intelligent Manufacturing Pilot Demonstration Project reflects the company's ability to innovate and stay ahead of the curve in this rapidly evolving sector.

ZPC, based in Zhoushan, Zhejiang province, is a comprehensive refining and chemical enterprise with a refining capacity of 40 mln tons per annum (T/A) by world’s standards. Zhejiang Rongsheng Holding Group, the parent company of Rongsheng Petrochemical is ranked 59th in China by revenue at RMB 448.32 bln in 2022. By the measure of Top 500 Private Enterprises in the country’s manufacturing sector, Rongsheng Group is now 5th largest. Last August, the Fortune Global 500 reported Zhejiang Rongsheng Holding Group's global ranking at 180th, and third among chemical giants trailing behind China’s state-owned Sinochem Holdings and Germany’s BASF.

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