29 March 2009 18:53 [Source: ICIS news]
SAN ANTONIO, Texas (ICIS news)--The Chinese government's economic stimulus measures have delivered a rapid and significant boost to business conditions and to chemical demand, Asian market participants said on Sunday.
"We say the night is over, and the dawn is coming," a Chinese source said on the sidelines of the National Petrochemical & Refiners Association (NPRA) meeting in ?xml:namespace>
The influx of government funds into the banking system has been effective in giving small and medium-sized companies in
That has been a key factor in lifting chemical demand and prices in
Investment in public works projects, such as
A Chinese olefins producer also had an optimistic view for the country, saying that there was a real prospect for a "soft landing" for the economy later in 2009.
Some market participants have said the China-led rebound in Asian chemical markets could be short-lived.
NPRA's 2009 International Petrochemical Conference began on Sunday and runs through Tuesday.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|