Can China's naphtha output cushion Asia against Middle East supply shocks?
China produced 8.13 million tons of naphtha in 2025, down 0.5% year on year, with the eastern region accounting for 75.4%. Tianjin stands out, lifting output 25.4% to 421,200 tons on chemical-oriented refineries and large ethylene complexes, while Zhejiang's Rongsheng project self-supplies light naphtha. This domestic base gives China more resilience than Japan or Korea, which import roughly two-thirds of their naphtha. But China still imports certain grades, so it is a partial buffer, not full insulation, when Hormuz flows are constrained.
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