China's chemical industry and oil and gas exploitation industry showed negative growth in November

According to data from the China Petroleum and Chemical Industry Association, in November, the growth rate of China's oil and chemical industry (hereinafter referred to as “the petrochemical industry”) was close to zero. Chemicals and oil and gas exploration industries even experienced historically negative growth. In this month, the total output value of the industry only increased by 0.8%, and the growth rate suddenly decreased by 17.7 percentage points from the previous month, which was the lowest level in the same period of the past five years. Among them, the chemical industry increased by -1.5%, and the oil and gas industry was -1.2%. In November, the export was severely hampered, the market continued to be turbulent, and the business conditions continued to deteriorate. The industry faced double pressure from external shocks and internal adjustments. According to Feng Shiliang, deputy secretary-general of the China Petroleum and Chemical Industry Association, the end of this year and the first half of next year will be a difficult period for the adjustment of the petrochemical industry. The domestic macroeconomic development is the most important factor affecting the economic operation of the industry.
Feng Shiliang said that the Central Economic Work Conference has set the tone for the economic work in 2009 and clearly defined the general guidelines for expanding domestic demand, adjusting the structure, and maintaining growth. At present, the state's policies and measures to increase growth are also increasing. In general, he believes that the economic development of the petrochemical industry next year will depend not only on the domestic macroeconomic trends and the effects of macroeconomic policy adjustments, but also on the development trend of the world economy, especially the developed countries in the United States, Europe, and Japan. The impact of the entire industry is very obvious. The relevant international agencies predict that the world economy will obviously slow down next year, and the economies of some developed countries in the United States and Western Europe will face recession and may experience negative growth. The external environment in which the industry economy operates is very severe.
Data show that in November, China's petroleum and chemical industries experienced a sharp decline in production. The industry's total output value (current price, the same below) was 484.25 billion yuan, an increase of only 0.8% year-on-year, down by 28.1 percentage points. Fall 17.7 percentage points. Among them, the output value of the chemical industry was 259.99 billion yuan, a year-on-year decrease of 1.5%, a drop of 32 percentage points, and a fall of 16.3 percentage points; the output value of the oil and gas exploration industry was 68 billion yuan, a year-on-year decrease of 1.2%, a decrease of 35.2%. Percentage point, the chain dropped by 29%; the refinery industry output value was 139.44 billion yuan, an increase of 1.2% year-on-year, down 22.1 percentage points, 16.6 percentage points lower than the previous month; the special equipment manufacturing industry maintained a good growth. Situation, the output value reached 16.83 billion yuan, an increase of 72.5%.
In November, domestic oil and chemical industry output fell by 70%. Of the 69 kinds of petrochemical products that were tracked, 48 produced a drop, which accounted for about 70%, and 7 more than the previous month. Many products had a drop of more than 20%. According to statistics, a total of 29,887 large-scale production enterprises in the industry in November, an increase of 654 from the previous month, an increase of 2391; from January to November cumulative total output value of 6.08 trillion yuan, an increase of 27.6%.
The data also showed that in November, the export value of the whole industry was 32.49 billion yuan, a year-on-year drop of 4%, a drop of 27.8 percentage points, and the first negative growth this year, a decline of 8.5%. From January to November, the value of export delivery was 395.59 billion yuan, a year-on-year increase of 18.5% and a drop of 5 percentage points.

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