China reports faster profit growth in oil, petrochemical industry
Reading time 1 min Staff Writer | February 9, 2019China's oil and petrochemical industry registered a profit growth of 32.1 percent in 2018, beating the 10.3-percent average rise for the country's major industrial enterprises.
Asia The industry's output steadily expanded in 2018
The aggregate profit of the industry reached 839.38 billion yuan (about 125 billion U.S. dollars), accounting for 12.7 percent of the total generated by the country's major industrial enterprises.
The industry's total export totaled 701.87 billion yuan, up 22 percent. The export of specialty chemicals, synthetic materials and organic chemical materials expanded by 19.7 percent, 17.2 percent and 21.6 percent, respectively.
The industry's investment rose by 6 percent in 2018, reversing a decline for two consecutive years. ■
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