When Nanyou Petrochemical Company, the predecessor of China Merchants Nanyou, was established, the national petroleum policy was adjusted and the petrochemical industry changed from a state-owned industry to a market-oriented industry. Nanyou Company rose in this wave and built production bases and supporting facilities such as oil refining, chemical industry and comprehensive utilization, ranking among the top industries in Fujian Province. In 2004, China Merchants Group invested 2.05 billion yuan in South Oil Company and initiated the merger of the two enterprises. In this process, China Merchants Nanyou gradually improved its corporate structure, paid attention to industrial layout and integrated various resources, which laid the foundation for the future development of the Group.
With the development of China Merchants Nanyou, its business field is also growing. At present, the company's main business includes refining, chemical industry, petroleum trade, warehousing and logistics, new materials and other fields, involving petroleum, chemical industry, building materials, steel and other industries. The company always adheres to "green development and intelligent manufacturing", pursues high-quality development and is committed to promoting the progress of China petroleum and petrochemical industry. It can be said that China Merchants Nanyou is a leader in China petroleum and petrochemical industry, and its predecessor Nanyou Petrochemical Company is also one of the important enterprises in Fujian Province.