September 2019

Columns

Asia: China eyes significant growth in petrochemicals

China aims to grow its domestic petrochemical production during the next 5 yr–7 yr, driven by the ongoing modernization of major production facilities and an increase in foreign investments.

Gerden, E., Contributing Writer

China aims to grow its domestic petrochemical production during the next 5 yr–7 yr, driven by the ongoing modernization of major production facilities and an increase in foreign investments. According to a report by the Chinese Federation of Petroleum and Chemical Industry (CFPCI), the Chinese petrochemical industry’s aggregate profit in 2018 grew by more than 30% on the year, to 839.39 B CNY ($125 B). In addition, the level of profitability of the industry increased by 6.8% to the highest figure since 2012. CFPCI analysts expect the industry to achieve at least the same growth rates this year, due to continued demand for Chinese petrochemicals, both in the domestic market and abroad, as we

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