In October, the output value of China's petrochemical industry increased by 9.9% year-on-year

July 03 00:00:43, 2018

According to data released by the China Petroleum and Chemical Industry Association (CPCIA) on Thursday, the output value of China's oil and chemical industries continued to grow steadily in October, buoyed by the recovery in demand.

CPCIA stated that in October, the output value of China's oil and chemical industries increased 9.9% year-on-year to RMB 612.17 billion. From January to October this year, the output value of China's petrochemical industry fell 6% year-on-year to RMB 529 billion.

According to an official from CPCIA, “The petrochemical industry is currently facing some challenges, including a continuing weak market, overcapacity, falling investment, and export difficulties.”