Why does China's naphtha supply still fall short despite record refinery output?

Why does China's naphtha supply still fall short despite record refinery output?
China produced 81.34 million tonnes of naphtha in 2025, down 0.5% year on year, with the eastern region alone accounting for 75.4%. Tianjin illustrates the structural shift: although it ranks only 12th nationally in crude throughput at 18.26 million tonnes, it climbed into the top five for naphtha output at 4.21 million tonnes, up 25.4%, because its refineries are chemical-oriented and feed large ethylene complexes. Zhejiang followed a similar path, with Zhejiang Petrochemical self-producing and supplying 2.63 million tonnes of light naphtha. The lesson is clear: naphtha availability now tracks chemical intensity, not crude runs, and the market remains structurally short.