Abstract: During the mid-to-late period of the 14th Five-Year Plan, China's energy structure adjustment stands at a critical crossroads. Faced with a complex landscape including "the rapid development of new energy vehicles" "the peak consumption of oil products" and "a prolonged loss cycle in the chemical market spanning over ten quarters," traditional refining enterprises must not only develop the real economy but also secure and stabilize the energy supply. Adhering to the main theme of transitioning towards petrochemicals, these enterprises are leveraging new catalysts and novel reactor configurations to integrate refinery resources. The goal is to cost-effectively and competitively convert reduced gasoline products into low-carbon olefins. Leading the way, the SINOPEC Tianjin Company development team has optimized and integrated a new fluid catalytic cracking (FCC) technology, known as FCO(fluid catalytic olefins). Based on the fresh feed of the first riser, this technology can yield 6.5%-10.6% of ethylene and 22% of propylene, with an energy consumption of 63-72 kgOE/t（1 kgOE=41.8 MJ）. This innovation opens a new transformation path for preserving and enhancing the value of existing assets. During the transition period, it is crucial to deeply explore the potential of catalytic cracking technology and solidify its key role in the overall process.

Key words: catalytic cracking, refining transformation, MFI zeolite, targeted catalytic cracking, FCO technology