The total output of China’s petrochemical industry has been valued at 4.11 trillion yuan (US$607 bln) for H1-2010. This is a 41.1% rise from a year ago levels- a new record high, according to China Petroleum and Chemical Industry Association (CPCIA). This makes the growth rate of the petrochemical industry 7.8 percentage points higher than the national industrial product value. The petrochemical industry accounted for 12.7% of national industrial output value in H1, as per downstreamtoday.
Vs 2009, output value of the oil refining and oil gas exploitation grew by 52.9% and 52.3% to 1.15 trillion yuan and 465.9 billion yuan. The total output of the chemical industry was valued at 2.4 trillion yuan, up 35.6% yoy. The chemical industry accounted for 60.12% of the entire petrochemical industry's output value in June, compared with January's 56.31%. Output value of basic chemical raw materials, synthetic materials and specialty chemicals grew by 44.8%, 42.4% and 36.4% yoy to 589.75 billion yuan, 385.9 billion yuan and 600.98 billion yuan.