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Post time 2006-6-4 21:47:28 |Display all floors
Chapter 18      Petrochemical Industry

During the “10th Five-Year Plan Period”, in spite of the grave restraints of resources and the great pressure of the continuous hike of the oil price, China’ s Petrochemical Industry remained the industry with the fastest growth rate, the most efficient economic returns and the most remarkable technological progress in China’s industrial development history. In the fiver years from 2001 to 2005, China’s Petrochemical Industry overfulfiled all the targets as set forth in the “10th Five-Year Program” on an all-round way. With 2005 compared with 2000, the Petrochemical Industry gained a 48.9% in terms of its assets with the annual growth rate of 8.3%;the sales income increased by 151.6% and the average annual growth rate reached 20.3%;the profit growth climbed up to 187.2% with the average annual growth rate of 23.5%。However, compared with the whole industry and the national economic development, Petrochemical Industry ranks as one of the industries in China which boast the fastest growth speed and the best quality. The outstanding achievement is obtained directly as a result of the economic restructuring. Meanwhile it should be acknowledged that it is the result owing to the new historical pattern of the industry openness brought about by China’s accession into WTO. However, the future development of the petrochemical industry will be challenged by severe restraints of resources and environment. Crude oil price keeps on a high position will further aggravate the risks in investment in the petrochemical industry and the more and more rigorous environment protection standards will pose new challenge tot the petrochemical industry. Besides, the technological advancement of the international petrochemical industry is noticeably accelerated, so the competition in the international market is growing fiercer. So the future development of the Petrochemical Industry shall be guided by the scientific development philosophy with a view to fundamentally transforming the industrial growth mode and take the road of the intensive integration of refineries and petrochemical plants, characterized by high technology, Development of the Zone Economy and scale-up development, positively rely on the scientific progress, optimize the technological process, lower the consumption of the raw materials, elevate the quality of the products and enhance the international competitiveness of the petrochemical industry.

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