Next year petrochemical industry growth rate slowed down

On November 24, the autumn report of China's industrial economy running in 2011 released jointly by the Ministry of Industry and Information Technology and the Institute of Industrial Economics of the Chinese Academy of Social Sciences showed that despite the shrinking external demand, sluggish demand for domestic demand and rapid cost increase, this year China has The overall operation of the industrial economy has maintained a steady and rapid growth. From January to October, the petrochemical industry's added value increased by 14.5% year-on-year, faster than the growth rate of industrial added value above the designated size. However, at the same time, the report predicts that due to the negative factors such as the declining demand for petrochemical products from the downstream industries and rising energy-saving emission reduction pressures, the growth rate of China's petrochemical industry will gradually slow down next year.

The report pointed out that from the perspective of downstream industry demand, since the beginning of this year, the growth rates of major related industries in the petroleum and chemical industries such as automobiles, textiles, plastics, and flat glass have slowed down significantly, and demand for petrochemical products has declined. For example, it is predicted that automobile production and sales will enter a new round of adjustment cycle after experiencing an average annual growth of 25% for 10 consecutive years. It is expected that automobile production and sales will increase by 5% to 8% next year.

The report believes that shrinking downstream demand, coupled with rising pressure for energy conservation and emission reduction, rising capital costs, tight supply of coal, electricity, oil, and other factors, increasing dependence on foreign resources, low resource utilization, and lack of high-end petrochemical products, etc. All will have a negative impact on the economic operation of the petrochemical industry.

Huang Libin, deputy director of the Operational Monitoring and Coordination Bureau of the Ministry of Industry and Information Technology, analyzed and evaluated the economic operation of the petrochemical industry this year. From the perspective of the industry as a whole, the operation of crude oil extraction is in good condition, but the efficiency of downstream sub-sectors such as oil refining has declined sharply; the chemical industry was in the early part of this year. After a good run, there was a slowdown in growth from September to October. He reminded that the emerging problems in the economic operation of these industries should attract sufficient attention.

The report predicts that the industrial added value above designated size will increase by about 14% over the previous year, and the growth rate for next year is expected to be 1-2% lower than this year. Among them, the overall operating environment of the raw material industry next year is not relaxed, and the growth rate will continue to slow down on the basis of this year.

To this end, Huang Libin emphasized that next year we must adhere to the correct direction of macro-control, actively respond to various difficulties and challenges, and maintain stable and rapid development of the industrial economy. Specifically, we will do five tasks: First, stabilize policy expectations and prevent major economic ups and downs. The second is to put the “structural adjustment and transfer method” in a more prominent position. The third is to promote the deep integration of informatization and industrialization. The fourth is to further optimize the development environment for small and micro enterprises. The fifth is to effectively enhance the independent innovation capability and market competitiveness of enterprises. At the same time, he also stated that it is necessary to innovate the organizational model and management model of enterprises to form industrial alliances and technology alliances; it is necessary to attach great importance to the development of the real economy.

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