Ms. Shen Yinjiu briefly reviewed the current PX and PTA industry landscape in China. Against the backdrop of the ongoing trend of industry integration, the proportion of industry supporting facilities has increased, PX imports have decreased, and PTA exports have risen year by year. Next year, the growth rates of upstream and downstream capacities will diverge. With the concentrated expansion of PTA plants, the self-supply ratio of PTA will continue to rise, leading to a surplus in PTA, which will result in regional supply-demand imbalances.