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China's Petrochemical Industry Sees Rapid Profit Increase
Since the beginning of this year, China's petrochemical industry has picked up, prices risen and profits increased. In the first five months, the sales income reached 453 billion yuan, up 41 percent over the same period last year. The profits earned also surged by over five times.
This news came from the China Petrochemical Corporation Information Center. Qian Hongyuan, chief engineer of the Center, said that China's petrochemical industry has established an industrial system which embraces over 20 industries and is able to produce more than 40,000 kinds of products. The output of over 10 kinds of petrochemical products such as chemical fertilizer, chemical fiber, pesticides, and crude oil takes its place in the front ranks of the world.
To show the achievements of China's petrochemical industry and strengthen international exchanges and cooperation, the 2000 China International Chemical Industry Exhibition, which is jointly sponsored by State Petrochemical Industry Bureau and China Council for the Promotion of International Trade, will be held in Beijing between September 19 and 22. Fifty petrochemical enterprises from 16 countries and regions including the United States, the United Kingdom, France, Germany, Italy, Switzerland, Japan and Hong Kong SAR and Taiwan and up to 700 domestic enterprises will participate the exhibition.
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