Latest News:  
Beijing   Shower/Cloudy    25 / 12 ℃  City Forecast

Home>>China Business

Slowdown weights on energy industry

(Global Times)

08:27, May 14, 2012

Petrochemical companies with annual revenues exceeding 20 million yuan ($3.17 million) saw their profits drop to 98.8 billion yuan, down 22 percent year-on-year in the first two months of 2012, the China Petroleum and Chemical Industry Association reported on the weekend.

These companies saw a combined 9.21 billion yuan deficit in their refining business during this period, compared with a profit of 14.28 billion yuan in the first two months of 2011, the association said. The current profit slump was attributed to the slowing economic growth in the markets, which has greatly affected the energy industry, analysts said.


Leave your comment0 comments

  1. Name


Selections for you

  1. Development, urbanization threaten wetland

  2. Thousands evacuated due to subsidence

  3. ArcelorMital Orbit Tower at Olympic Park

  4. Lang Lang receives honorary doctorate degree

Most Popular


  1. Regulations holding back financial sector’s progress
  2. City banks' IPO push puts investors at risk
  3. Ways to develop low-carbon economy in China
  4. RRR cut still in country’s best economic interest
  5. Relax high-tech restrictions
  6. Overseas investment yields not nation's priority
  7. A neutral US helpful to stability in S China Sea
  8. Tourism authority warns of low-cost package tours
  9. Have you felt anxious recently?
  10. Central bank's rise comes at economy’s expense

What's happening in China

Sichuan holds drill on quake anniversary

  1. Unhappy tourists write open letter
  2. Taiyuan-Haikou-Singapore flight opens
  3. CNOOC, Roc Oil ink product-sharing contract
  4. China nurses increase by 66 pct in 6 years
  5. China again issues alert for rainstorm in south

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai