Home / Knowledge / News / Textiles / China's petrochemical sector profit grows in H1 2013
China's petrochemical sector profit grows in H1 2013
31
Jul '13
The main business revenue of the Chinese petrochemical industry reached 6.3 trillion yuan in the first half of 2013, showing an increase of 10 percent year-on-year, according to relevant data.
 
The Chinese petrochemical industry realized a total profit of 400 billion yuan from January to June 2013, registering an increase of 11 percent year-on-year.
 
In fact, the western region of China showed a sustained and rapid growth in petrochemical sector investment during the six-month period, representing an increase of 27.2 percent year-on-year.
 
Speaking at the eighth Taiwan Strait Petrochemical Technology Conference, held in Ningxia, recently, Li Wu, president of the China Petroleum and Chemical Industry Federation said, China’s petrochemical industry has grown in leaps and bounds since 2000, with a growth in industrial base, industrial chain, and technological innovation, thus laying a strong foundation.
 
Over the years, the Chinese petrochemical industry is expanding rapidly and has formed more than 50 key industries, producing over 60,000 kinds of products.
 
Currently, the output value, profits, investment, and growth rate of imports and exports of the Chinese mainland petrochemical industry has maintained a high level, Li said.
 
However, some Chinese petrochemical enterprises are currently facing a problem of excess capacity and insufficient demand. In addition, there are difficulties posed by corporate restructuring operations and increased risk of short-term interests, which makes decision-making a more difficult challenge.
 
This is forcing the Chinese petrochemical firms to take innovation-driven, transformation and upgrading road to development, while adhering to quality improvement, Li said.
 

Fibre2fashion News Desk - India

Must ReadView All

L-R Manish Singhai, COO, Peter England; Vinai Kumar Saxena, chairman, KVIC; Ashish Dikshit, business head, ABFRL and Anshu Sinha, CEO, KVIC while signing agreement. Courtesy: ABFRL

Textiles | On 24th May 2017

Aditya Birla & KVIC enter into a strategic partnership

Aditya Birla Fashion and Retail Ltd (ABFRL) and Khadi and Village...

Courtesy: Jabong

Apparel/Garments | On 24th May 2017

Jabong Mood Store redefines online shopping in India

Jabong, India's leading online fashion retailer, has launched the...

Textiles | On 24th May 2017

Starlinger unveils FX 8.0 circular loom for fabric making

Starlinger, a leading supplier of machinery for woven plastic...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Urs Stalder
Sanitized AG

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

Robert Brunner
Devereux

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search