Business
20:24, 18-Nov-2018
Profit of China's petroleum, chemical industry up 45.2 pct in first three quarters
Updated
20:14, 21-Nov-2018
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China's petroleum and chemical industry posted rapid growth in the first nine months of 2018, official data showed.
The sector's profit amounted to 712.1 billion yuan (about 102 billion US dollars) from January to 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.
Source(s): Xinhua News Agency