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China’s Oil and Petrochemical industry posts 32.1 percent profit growth in 2018

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]
China’s oil and petrochemical industry posted a 32.1 percent growth in profits in 2018, recording 839.38 billion yuan (around US $ 125 billion), accounting for 12.7 percent of the country’s total industrial enterprises.

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The output of the oil and petrochemical industry increased steadily in 2018 and showed relatively good momentum in achieving sound economic performance as a result of constantly lower costs and stable demand in the market, according to a report released by the Ministry of Industry and Information.

Total industrial exports reached 701.87 billion yuan (US $ 104.6 billion), up 22 percent, while industry investment rose 6 percent in 2018, reversing the decline of two years earlier, the report said.

 

 

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]
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