Supply-side Reform Background Research on the Competitiveness of Petroleum Equipment Manufacturing Industry in the Yellow Triangle

There are some problems in the petroleum equipment manufacturing industry in the Yellow River delta region, such as unbalanced development of sub-industries, lack of core competitiveness of products, and lack of industrial cluster effect. The paper selects the industrial economic operation data from 2014 to 2016. Firstly, it USES factor analysis method to rank the competitiveness of the four sub-industries of the oil equipment industry in the Yellow River delta region. The t-test method was then used to determine the difference of industrial situation in the region in the past three years, as well as the difference of industrial competitiveness and national average level, so as to supplement the relevant conclusions obtained by factor analysis. Through empirical evaluation, three basic principles of developing regional competitiveness improvement strategy are obtained. Based on the influence of supply-side reform on the industry, specific strategies for competitiveness improvement are proposed from three aspects, namely, optimizing industrial structure, enhancing supply-side strength, and innovation and upgrading.