After six years of suspension, China decided to restart the once controversial coal chemical investment projects. According to the work plan of the National Energy Administration, the Guiding Opinions on the Orderly Development of Coal Gas Demonstration Projects and the Guiding Opinions on Steadily Promoting the Demonstration of Coal-to-Oil Industrialization will be issued in the near future. The China Petroleum and Chemical Industry Federation has previously set some indicators for coal-based oil and coal-based natural gas, and has clearly defined the energy consumption, water consumption, and carbon dioxide emission intensity of the company. Song Zhichen, a researcher in the energy industry at China Investment Advisors, pointed out that the development of coal chemical industry meets the needs of the country's energy strategy and safety. Due to the environmental pollution caused by coal chemical industry, business and academia have had different opinions on coal-to-oil and coal-based natural gas in recent years, and government policies have been fluctuating. Given that technological reforms and innovations have already controlled this pollution within a controllable range and that China is in a passive position of over-reliance on crude oil imports, it is increasingly important to look for clean alternative energy sources. Developing coal chemical industry will help China get rid of energy difficulties and improve energy security. . After the restart of coal chemical industry, it is necessary to speed up the establishment of a new type of coal chemical industry with friendly environment and high overall efficiency. On the one hand, considering comprehensively the conditions of coal resources, water resources, traffic conditions, and environmental capacity, adjust the rational planning layout of the industry, realize the integration of upstream and downstream, and promote the development of modern coal chemical industry to the park, base, and integration; On the other hand, it weighs the relationship between income and the environment, raises industry barriers to entry, and strengthens supervision afterwards. Song Zhichen also pointed out that Hyundai New Coal Chemical Industry is mainly engaged in the production of clean energy and alternative petrochemical products, which mainly include two paths of coal-based fuels and coal-based oils. Its high added value, large market gaps and good prospects. It is one of the important ways for China to optimize energy structure and ensure energy security. At this stage, the energy conversion efficiency of coal to natural gas is the highest, which can reach 50%-53%. The market demand is strong and the economic benefits are good. Therefore, the development prospects are the best. The conversion rate of coal-based raw materials is medium, and it has good economic feasibility. The conversion rate of coal-to-oil energy is the lowest, only 24%-26%, and it is greatly affected by the fluctuation of international oil prices. Considering factors such as technology maturity, economics, and market space, the development prospects of the new coal chemical routes are from good to bad: coal to natural gas, coal to olefins, coal to ethylene glycol, and coal to oil. According to Guo Fanli, a director and research director of China Investment Consulting, the acceleration of the transformation and upgrading of the coal chemical industry should start with the following five aspects: First, control the total output of traditional coal chemical production and increase the development of alternative coal, gas and energy coal chemical products; , For basic coal chemical industry, ensure total quantity stability and total quantity control, and accelerate industrial upgrading; Third, promote continuous technical progress in the coal chemical industry, improve integration of coal-to-electricity and heat, intensive, and cyclic utilization of production processes; Under the conditions of environmental constraints and water resources constraints, coal chemical industry should use water to set production and orderly development. Fifth, the modern coal chemical industry with market demand should be strictly managed and strengthened. The “China Coal Chemical Industry Investment Analysis and Prospect Forecast Report 2015-2019†published by China Investment Advisor states that China's Shenhua Baotou Coal Chemical Company achieved operating revenue of 5.88 billion yuan in 2014, a year-on-year decrease of 1.8%, while coal and power generation operating revenue The year-on-year declines were 16.2% and 7.1%, respectively. The decline was far less than the decline in coal and power generation businesses, reflecting good economic performance. The revenue from coal chemical business accounted for 2.37% of the total operating revenue of China Shenhua, an increase of 0.26 percentage points from 2013. It can be seen that even in the era of low oil prices, coal chemical industry is not nowhere out of reach and unprofitable. The development of the coal chemical industry is still an unwavering long-term strategy. 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