Economic benefit of chemical products in China

by Jessica Jackson on Nov 19, 2020 Finance 662 Views

In 2011, China's national economy continued to develop in the expected direction of macro-control, achieving a good start of economic and social development in the "Twelfth Five Year Plan" period. According to preliminary estimates, the annual GDP was 471564 billion yuan, an increase of 9.2% over the previous year in terms of comparable prices. In terms of quarter to quarter, the growth rate of the first quarter was 9.7%, that of the second quarter was 9.5%, that of the third quarter was 9.1%, and that of the fourth quarter was 8.9%. Macroeconomic fluctuations make the growth of China's chemical raw materials and chemical products manufacturing industry high before and low after. Since the end of the third quarter of 2011, a variety of chemical products showed a month on month decline, which led to the rapid decline of the industry in the fourth quarter, and the unit operating rate dropped to a low position of 60% - 70%.

In 2011, the adjustment of national industrial structure kept the high pressure of policies, and a number of industrial policies were introduced in succession. On the one hand, the twelfth five year development plan for industrial transformation and upgrading, the twelfth five year development plan for petroleum and chemical industry, and the twelfth five year development plan for pesticide, rubber, paper chemicals and other subdivided industries have been successively issued; on the other hand, the entry threshold of the subdivided industries has been further improved.

In 2011, the operation of China's chemical raw materials and chemical products manufacturing industry showed the following characteristics: first, the industry continued to rise in the first three quarters of the boom, and rapidly turned weak in the fourth quarter. Second, the structure differentiation is obvious in the process of industry boom. By industry, the profitability of basic chemical raw material manufacturing and other industries improved rapidly, while the gross profit of daily chemical industry continued to decline; from the perspective of regions, the central and western regions significantly accelerated. In terms of scale, the growth of small enterprises is stable, the performance of large and medium-sized enterprises fluctuates greatly, and the cycle characteristics are outstanding. Third, we should accelerate investment in fixed assets. The annual growth rate of fixed assets investment increased by 28.08% year-on-year, but the newly started projects only increased by 0.8%, indicating that the investment structure has been optimized. Fourth, exports are running smoothly. The total export volume of 28 major chemical products increased by 0.24%, and the value of export delivery increased by 22.29%, indicating that the export price has increased significantly. Fifth, the growth of some traditional high energy consumption products such as calcium carbide rebounded, and the growth rate was significantly higher than the average growth rate of the industry.

In 2012, China's economic growth will decline slightly. The government set a growth target of 7.5%, but most research institutions believe that it will still be higher than 8%. In this context, the growth rate of China's chemical raw materials and chemical products manufacturing industry will also decline slightly. Specifically, from the perspective of industrial policy background, a number of "12th Five Year Plan" and corresponding industrial rules will continue to be issued, and the entry threshold of some high energy consumption and high pollution sub industries will be further increased; from the perspective of market operation indicators, the growth rate of industrial sales output value of the whole industry will be reduced to about 17%. As the cost pressure of the industry is difficult to subside, and the production capacity formed by fixed asset investment in the past two years may be released intensively, the growth rate of industry profits will also decline. But from the implementation of eliminating backward production capacity, the actual strength will depend on the economic situation. The price of some enterprises with large capacity elimination will increase rapidly.

Chemical products manufacturing business indicators in China in 2011

At the end of 2011, there were 21908 chemical raw materials and chemical products manufacturing enterprises in China, with total assets of 4.4 trillion yuan, up 20.60% year-on-year. According to the data of China business information network, in 2011, China's chemical raw materials and chemical products manufacturing enterprises above Designated Size achieved 6 trillion yuan of main business income, a year-on-year increase of 33.34%, and a total profit of 397.819 billion yuan, a year-on-year increase of 32.08%.

In 2011, in the fine molecule industry of chemical raw materials and chemical products manufacturing industry above designated scale in China, the main business income of basic chemical raw material manufacturing industrial enterprises reached 1658.6 billion yuan, with a year-on-year increase of 34.51%; the total profit reached 95.69 billion yuan, with a year-on-year increase of 37.60%.

The main business income of fertilizer manufacturing enterprises reached 729.09 billion yuan, up 38.22% year-on-year, and the total profit reached 44.4 billion yuan, with a year-on-year increase of 73.99%;

The main business income of pesticide manufacturing enterprises reached 14.45 billion yuan, up 29.67% year on year, and the total profit reached 12.595 billion yuan, up 21.44% year on year;

The main business income of coating, ink, pigment and similar products manufacturing industrial enterprises reached 448.888 billion yuan, a year-on-year increase of 24.89%; the total profit reached 31.67 billion yuan, with a year-on-year increase of 13.04%;

The main business income of synthetic materials manufacturing enterprises reached 1071.84 billion yuan, up 33.50% year on year; the total profit reached 58.216 billion yuan, with a year-on-year increase of 23.17%;

The main business income of special chemical products manufacturing enterprises reached 1615.59 billion yuan, with a year-on-year increase of 35.02%; the total profit reached 126.09 billion yuan, with a year-on-year increase of 32.33%;

The main business income of domestic chemical products manufacturing enterprises reached 317.1 billion yuan, an increase of 23.38%, and the total profit reached 29.147 billion yuan, with a year-on-year increase of 15.73%.

Article source: https://article-realm.com/article/Finance/8513-Economic-benefit-of-chemical-products-in-China.html

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