Petrochemical is the major industry involved in anti-dumping cases in China

30-Aug-05

The petrochemical sector has become the major industry involved in anti-dumping cases in Mainland China. Of the 208 anti-dumping investigations launched by members of the World Trade Organization in 2004, 82 cases are related to petrochemical products, the highest number among all industries. Among the 148 cases which resulted in anti-dumping measures, 63 were about petrochemical industry products. By July 2005, 39 anti-dumping cases had been launched by Chinese industries and registered in China's concerned investigation institutions. Among the 39 charges, 28 are on chemical products, 9 are related to Taiwan. China's trade value of petrochemical products can be pegged at US$158.6 bln in 2004, a 40% rise from 2003. Currently, imports are pegged at US$117.72 bln (annual growth of 44.5%) and exports are at US$40.92 bln (a growth of 28.4%). As a result, the adverse balance of the trade deficit was US$27.2 bln more than the US$49.59 bln in 2003. This can be attributed to the large deficit in domestic supplies vis a vis the booming demand for crude oil, ethylene, synthetic resins and engineering plastics.