BUSINESS Profit of China's petroleum, chemical industry up 45.2 pct in first 3 quarters

BUSINESS

Profit of China's petroleum, chemical industry up 45.2 pct in first 3 quarters

Xinhua

17:55, November 18, 2018

BEIJING, Nov. 18 (Xinhua) -- China's petroleum and chemical industry posted rapid growth in the first nine months of 2018, official data showed.

pec1.jpg

File photo: VCG

The sector's profit amounted to 712.1 billion yuan (about 102 billion U.S. dollars) in January-September, with an increase of 45.2 percent year on year, according to the Ministry of Industry and Information Technology (MIIT).

Revenue of core businesses in the industry expanded 14.8 percent during the same period, reaching 9.59 trillion yuan.

Prices of petroleum and chemicals continued to grow in the first nine months. Prices of oil and natural gas extraction climbed 24.6 percent, while those of chemical raw materials and chemical product manufacturing rose 7.2 percent.

Investment in the chemical industry is showing signs of rebound, the MIIT said.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue