Home / Knowledge / News / Textiles / China's petrochemical output rises in 2012; profit dips
China's petrochemical output rises in 2012; profit dips
05
Feb '13
In spite of consistent rise in overall output during 2012, China’s petrochemical industry witnessed a year-on-year fall in profits on account of poor demand, a statement from the National Development and Reform Commission (NDRC), leading economic planner of the country, said.
 
Rising at a rate of 12.9 percent year-on-year, the overall output of Chinese petrochemical industry grew to 10.86 trillion yuan or US$ 1.73 trillion in 2012.
 
Due to waning domestic and international demand, the output continued to experience month-on-month declines during first six months of the year, however it started rebounding in the second half of the year on account of the Government’s pro-growth policies, the statement said.
 
Nonetheless, the sector’s profits dipped 9.4 percent to 324.9 billion yuan during January-November 2012. 
 
As per NDRC’s estimates, the sector’s profit for the entire year would have dipped by 10 percent year-on-year, the statement said.
 
The Chinese Government introduced a series of measures during last year to boost the slowing economy. The measures included reducing benchmark interest rates, approving large-scale infrastructure projects and easing the commercial bank’s reserve requirement ratio.
 
According to the National Bureau of Statistics, China’s economy posted a 7.8 percent growth during 2012, which is the lowest growth rate since 1999.
 
However, after a seven-quarter downtrend, the growth rate rebounded to 7.9 percent in the last quarter of 2012.
 

Fibre2fashion News Desk - China

Must ReadView All

Textiles | On 24th Jan 2017

Textile industry demands relaxation of laws from Budget

The upcoming Union Budget 2017-18 should focus on relaxing certain...

President Donald Trump; Courtesy: White House

Textiles | On 24th Jan 2017

US sets ball rolling for withdrawal from TPP

President Donald Trump has set the ball rolling for withdrawal of the ...

Textiles | On 24th Jan 2017

Indian cotton consumption estimated at 290 lakh bales: CAI

The domestic consumption of cotton during the crop season 2016-17...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search