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According to Li Yongwu, president of the China Petroleum and Chemical Industry Association, China's oil and chemical industry completed an annual industrial added value of 1.2 trillion yuan in 2006, an increase of 23.6% over the previous year; Trillion yuan, an increase of 27.4% over the previous year; a profit of 437.7 billion yuan, an increase of 18.3% over the previous year; import and export trade volume of 245.73 billion US dollars, an increase of 20.7% over the previous year; product sales rate It was 98.7%, which was basically the same as last year.
At the “2007 China Petrochemical and Chemical Economic Development Conference†held here, experts pointed out that while China’s oil and chemical industry has achieved a significant increase in the overall strength of the industry, there are still many problems.
First, the growth rate of investment in fixed assets is high, and investment in some industries is overheated. In recent years, due to huge market demand and improved industrial efficiency, the petrochemical industry has set off a climax of capacity expansion. From 2003 to 2005, the industry's investment in fixed assets increased by more than 30% for three consecutive years. In 2006, the fixed assets of China's petrochemical industry actually completed 519.5 billion yuan, an increase of 28.3% over the previous year. Especially in the central and western regions, many projects such as large-scale coal-to-metallurgy, chlor-alkali, calcium carbide, PVC, synthetic ammonia, etc. are planned, which intensify the pressure on energy, resources, and the environment. Some industries will also experience excess capacity.
Second, the cost of sales in the industry has increased, and the benefits have been affected. In 2006, the international crude oil price fluctuated at a high level and the price of coal and electricity rose. As a result, the cost of downstream products such as organic raw materials, fine chemical products and synthetic materials increased. The entire industry of the oil refining industry is losing money, and profit margins for high-energy-consuming industries such as ammonia, calcium carbide, soda ash and caustic soda are shrinking. In 2006, the cost margin of China's petrochemical industry was 12.75%, a decrease of 1.16% from the previous year.
Third, the pressure for energy conservation and environmental protection has increased. The task of completing energy conservation and consumption reduction targets is very arduous. Due to the high proportion of high-energy-consuming industries in the petrochemical industry, the goal of reducing energy consumption per million yuan per year by 4% is difficult to accomplish. At the same time, the petrochemical industry is also the focus of the Environmental Protection Agency's large-scale investigation of environmental risks. Because the technology is relatively backward, and there are too many historical debts, it is also difficult to achieve emission reduction targets.
In 2006, China's petrochemical industry sales revenue increased by 27%
In 2006, China’s petroleum and chemical industry’s sales revenue grew by 27% on a continuous and rapid growth basis, creating the best level of history. The industry completed 4.2 trillion yuan in industrial output value in 2006, and the output of more than 40 major petrochemical products ranks among the top in the world. As a result, China has become the third largest oil and chemical economy in the world.