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The petrochemical industry in the first half of the year exceeded expectations

On July 20, 2017, the economic situation analysis of the national petroleum and chemical industry and the China petroleum and chemical industry (lianyungang) developed BBS in lianyungang, jiangsu province. During the meeting, China petrochemical association released the first half of the industry economy operation report. Overall good, according to a report in the first half of the industry economy, revenue and profit the main indexes such as more than expected, but also still has the market volatility, the dynamic investment insufficiency, the foreign trade problem such as pressure, cost recovery is fast.

According to the report, the first five months of this year, the industry's main business income is 5.91 trillion yuan, up 18.6% from a year earlier, as the highest rate in five years, including oil and gas and petroleum processing industry growth rate of 28.5% and 28.5% respectively; Profits totaled 361 billion yuan, up 60 percent year on year, the highest increase in six years, with a 35.2 percent increase in chemical industrial profits. In addition, the export of the whole industry grew rapidly, with the total import and export volume increasing by 26.5% year-on-year in January and may, and the market consumption improved, and energy consumption increased rapidly.

Fu xiangsheng, vice President of the China petrochemical association, said that in interpreting the performance of the industry economy, this aspect is related to the overall good economic environment at home and abroad. On the other hand, the industry has continued to adjust in the previous years, the supply and demand structure has improved, the overall development capability and level has been enhanced, which has laid the foundation for the recovery growth. In addition, the low base in the first half of last year was also a reason for the faster growth.

Deputy director general of the national bureau of statistics of industrial statistics division "is introduced, in the first half of China's industrial output grew by 6.9% year on year, industrial production growth is reverse years of persistent downward, short-term had stabilised bottoming weak recovery. Among them, the recovery of traditional industries such as oil and chemical industry is one of the main driving forces for the steady growth of industrial economy.

But at the same time, according to a report in the first half of the petrochemical industry have appeared in the market volatility, dynamic investment insufficiency, the chemical import and export a lot of pressure, new situation and new problems such as unit cost recovery faster. In the first five months of the industry, the growth rate of the main indicators is narrowing, especially the steady decline in fixed investment and the situation is not optimistic, which may cause the industry to develop a weak recovery.

Ministry of operation monitoring and coordination bureau deputy director He Yaqiong believes that although the industrial efficiency have a restorative growth, but still face many challenges, such as excess capacity of volatility model of economic growth is unsustainable, industrial economic benefit is needed is a sustained and stable growth, therefore need to fight, will focus on kinetic energy conversion between the old and the new development and innovation drive. Industry of the national development and reform commission, the coordination department deputy director Lu Weisheng said that China's petrochemical industry is still independent innovation consciousness is not strong, the industrial layout is unreasonable, security, environmental protection, such as problems, the future still need more measures and strong foundation, short board, promote the upgrade. It is agreed that the development of the petrochemical industry will continue to firmly grasp the general tone of "seek improvement in stability".

Association of China petrochemical Li Shousheng stressed that the current petrochemical industry supply side still urgent reform, must pay special attention to the four big thing: one is an unrelenting continue to pay special attention to the capacity and the transformation and upgrading of traditional industry, the second is to speed up the strategic emerging industries, 3 it is to promote the industry green development level, four is actively promoting "area" international cooperation capacity.

"It pays special attention to the four big thing, our industry reform of supply side will appear a 'industrial structure optimization, the competition ability to promote the supply and demand, rising economic benefit and harmonious" the new situation, the industry will be on a sustained, rapid development of new channels." "Said li shousheng.

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