Published 20th February, 2013
China's total petrochemical output rose 12.9% year-on-year although overall profitability slumped in 2012.
According to the National Development and Reform Commission, China’s top economic planner, total output rose 12.9% year-on-year to 10.86 trillion yuan ($1.73trn) in 2012, despite flagging consumer demand at home and abroad.
During the first 11 months of 2012 the petrochemical industry’s total profits dropped 9.4% to 324.9bn yuan ($52bn) and are expected to fall to 10% for the whole year.
As China's economy cooled to 7.8% last year, the slowest growth since 1999, the government rolled out a number of policies to stimulate growth, including financial easing and increased investment in public infrastructure.