July 22, 2025 04:13 AM GMT Energy | Asia Pacific M Idea China's Anti-Involution Implications After the steel and solar supply chains, China's downstream energy supply side reforms should help re-rate the rest of the regional fuel refiners and reduce the overhang on domestically oriented chemicals. Reliance, HPCL, BPCL, Deepak Nitrite, Indorama and Thai Oil are key beneficiaries. China's State Council's press conference mentioned supply-side reform of refining and chemicals and our China team sees potential ...