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```python import re def process_data(data): if data is None or data == '': return '' else: import json data = json.loads(data) if isinstance(data, list): return ' '.join([process_data(item) for item in data]) elif isinstance(data, dict): if 'name' in data: return data['name'] else: return data else: return str(data) # example usage data = 'China' print(process_data('null')) # Should print: '' print(process_data('{"name": "China"}')) # Should print: {'name': 'China'} print(process_data('{"name": null, "age": 25}')) # Should print: '{"name": "China", "age": 25}' print(process_data('{"name": "China", "age": 25, "city": "Beijing"}')) # Should print: 'China, 25, Beijing' print(process_data('{"name": null, "age": 25, "city": "Beijing"}')) # Should print: 'China, 25, Beijing' print(process_data('{"name": null, "age": 25, "city": null})) # Should print: 'China, 25, null' print(process_data('{"name": "China", "city": "Beijing"}')) # Should print: 'China, Beijing' print(process_data("{'name': 'China', 'age': 25, 'city': 'Beijing'}")) # Should print: 'China, 25, Beijing' print(process_data("{'name': null, 'age': 25, 'city': 'Beijing'}")) # Should print: 'China, 25, Beijing' ```

Jinlianchem 2025-03-25 14:18:22

On March 20, 2025, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced sanctions against Shandong Shouguang Luqing Petrochemical Co., Ltd., a refinery based in China. The United States stated that Luqing Petrochemical procured and refined Iranian crude oil, including oil from vessels associated with the Houthis and the logistics department of the Iranian Ministry of Defense. OFAC also sanctioned 19 entities and vessels related to Iranian oil transportation.

This is the fourth round of sanctions targeting Iran's oil sales since the President issued National Security Presidential Memorandum No. 2 on February 4, 2025, ordering the maximum pressure against Iran.

China is the world's largest oil import country, importing major oil from Arab States, Russia, and Iran. Saudi Arabia is China's largest oil import source, accounting for 8% of China's total oil imports.

Shandong Shouguang Luqing Petrochemical Co., Ltd. was established in 2000 and is a joint-stock private enterprise. It has an annual polyethylene production capacity of 750,000 tons, including a linear device with a capacity of 400,000 tons per year and a low-pressure device with a capacity of 350,000 tons per year.

The US trade restrictions on Chinese polyester manufacturers pose the following concerns: 1. The impact of unaddressed supply chain issues may lead to raw material shortages, negatively affecting downstream industries, such as polyester, which is a key sector. 2. The potential increase in US tariffs could impact the polyester industry due to its high costs, which could be influenced by US-China trade relations and tensions, such as the Trump administration's plan to impose tariffs on several countries and Russia, with uncertain future talks between the two countries. 1. The implementation of the Trump administration's plan to increase tariffs on several countries including Iran and Venezuela, will exacerbate the existing supply crunch for crude oil. The expected price hike in the US could prompt crude oil production to rise. 2. China's polyester manufacturers may shift their focus to other sources of oil, such as Russia, South America, increasing their procurement costs, requiring more resources to verify the origin of the oil, and lengthening the supply chain.

Data source: Jinliancheng

Throughout Q1 2025, the polyethylene market continued to decline despite the peak demand season for ground sheets in March, as downstream operations ramped up, and the macro environment in mainland China appeared favorable during the two sessions, export conditions were weak, and overall demand failed to meet expectations. With the release of production capacity from new investment projects in both the fourth quarter of 2024 and Q1 2025, along with slow inventory clearance throughout the Lunar New Year period, supply in mainland China remains ample. Under the pressure of competitive pricing to seek transactions, prices have continuously hit new lows. As of the time of publication, the mainline HDPE in the North China region is trading at 7800-8150 yuan/ton, LDPE at 9350-9700 yuan/ton, both showing significant declines from the beginning of the year, with some drops reaching 1000 yuan/ton. For Q2, there will be an increase in domestic repair equipment, particularly in the North China region, including Tianjin Chemical, China National Petroleum Corporation's Changsha Petrochemical, Yan'an Petrochemical, Qilu Petrochemical, as well as some independent local refineries, all having repair plans. Meanwhile, domestic expansion continues, with the Baofeng Petrochemical in Inner Mongolia and the ExxonMobil Heyzi Ethylene Project Phase I currently in trial operation, expected to produce合格品 by the end of March and early April. Supply fluctuations are expected as the peak demand season for ground sheets concludes; however, given the market situation, it does not support a sustained price rebound. However, the anticipated US sanctions may push up crude oil prices and increase production costs for some companies, which could help the market escape the lows from a cost perspective and is worth long-term attention.

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