Last updated at: (Beijing Time) Friday, March 05, 2004
China's petrochemical industry booms in 2003
China's petrochemical industry grew rapidly last year, with an ethylene output of 6.12 million tons, up 13.0 percent from 2002, synthetic resin output of 15.94 million tons, up 16.5 percent, synthetic rubber output of 1.27 million tons, up 12.2 percent and synthetic fibers of 10.69 million tons, up 17.3 percent.
China's petrochemical industry grew rapidly last year, with an ethylene output of 6.12 million tons, up 13.0 percent from 2002, synthetic resin output of 15.94 million tons, up 16.5 percent, synthetic rubber output of 1.27 million tons, up 12.2 percent and synthetic fibers of 10.69 million tons, up 17.3 percent.
Shu Zhaoxia, vice-chief engineer with the China National Petrochemical Corporation, told a national conference earlier thisweek that the average price levels in the industry grew over 10 percent year on year.
In 2003, the consumption of ethylene grew 11.2 percent, five major kinds of synthetic resins 11.2 percent, synthetic rubber 10.2 percent and synthetic fibers 13.9 percent, Shu said.
The recovery of world economy contributed to the boom, which also boosted the development of the domestic industry, Shu said, adding the consumption and price growth led to record output, sales and profits.
Last year, China's imports of major kinds of synthetic resins grew 4.4 percent, much slower than the previous two years, importsof synthetic fibers grew 2.5 percent and synthetic rubber 9.8 percent.