02 February 2010 09:43 [Source: ICIS news]
SHANGHAI (ICIS news)--China’s petroleum and chemical industry revenue is expected to grow by around 15% in 2010 due to an economic rebound, a report from China Petroleum & Chemical Industry Association (CPCIA) said on Tuesday.
In 2009, ?xml:namespace>
Li Guangzan, an analyst from Zhejiang-based Founder Securities, said: “The double-digit growth this year is not a big problem on the back of strong domestic consumption, especially the potential demand from auto and property sectors.”
The industry’s January-to-November profits dropped by 5.2% to CNY419.06bn, indicating a “V” shape rebound from August 2008 to November 2009, the report said.
Full-year profit and output of the industry would rise 10% year on year in 2010, CPCIA predicted.
To discuss issues facing the chemical industry go to ICIS connect
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|