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Article: Huge pressure from energy supply and overheated investment--analysis of China's petrochemical and chemical industry.(MARKET REPORT: Market Pulse)
- Article from:
- China Chemical Reporter
- Article date:
- November 6, 2007
- Author:
CopyrightCOPYRIGHT 2007 China National Chemical Information Center. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The economic performance of China's petroleum and chemical industry is comprehensively decided by four major factors now: a. economy grows rapidly, boosting consumption demand; b. supply of energy and products consuming resources tends to be tighter; c. global crude oil price will continue to stay high, driving the production cost of its downstream products; d. the overly rapid increase of investment in fixed assets is difficult to control, so more and more products will face surplus production capacity.
From the start of 2007, to solve the problems and contradictions that arose in the development of the economy, the central government has made a series of policies and ...