Abstract: The cost and benefit of producing national phase V gasoline in a 2 Mt/a VGO FCC unit using MIP or conventional catalytic cracking technology with S Zorb, alkylation and MTBE technologies are analyzed. Compared with the conventional catalytic cracking, MIP technology has higher gasoline yield, lower production cost, resulting in a better benefit. Although gasoline quality upgrading increases the cost of refinery, it can be compensated through technological advances largely.