The contribution rate of the chemical industry to the growth of the output value of the entire industry reached 60.9%. The growth or slowdown of the whole industry in the fourth quarter In the first three quarters of the previous year, the petrochemical industry operated smoothly and the overall benefit was good. The market demand for petrochemical products was strong, the overall price level continued to rise, the import and export trade increased significantly, and investment remained stable. The contribution rate of the chemical industry's output value to the growth of the output value of the entire industry reached 60.9%.

However, the economic benefits of the industry declined in the second half of the year, the oil refining industry continued to suffer losses, and investment in oil and gas exploration declined. At present, the debt crisis in Europe continues to deepen, the recovery of the world economy is apparently weak, and the internal and external environment for industrial economic operations is more complex. In the fourth quarter, the economic operation of China's petrochemical industry will still maintain a relatively stable operation, but the growth rate will gradually slow down. It is expected that the industry's output value in the fourth quarter will be 2.77 trillion yuan, a year-on-year increase of 10.6% and a decrease of 5.7% from the previous quarter.

In the first three quarters of the increase in the contribution rate of chemical production value, the petrochemical industry economy maintained a steady and relatively rapid growth. As of the end of September, the cumulative total output value of enterprises above designated size in the industry was 8.25 trillion yuan, a year-on-year increase of 34.8%. The output value of September was 1 trillion yuan, an increase of 33% over the same period of last year.

In the three major industries, the first three quarters of the chemical industry output value took a leading position in the increase of 37%; oil and natural gas mining followed, an increase of 34.9%; refining was 30.4%. From January to September, the output value of the chemical industry was 4.8 trillion yuan, contributing 60.9% to the growth of the output value of the entire industry, and the contribution rate was constantly rising.

In the first three quarters, the import and export trade of the petrochemical industry continued to grow rapidly. The total value of imports and exports reached 450 billion U.S. dollars, a record high in the same period, an increase of 33.5% year-on-year, and the growth rate was 1.3 percentage points higher than that in the first half of the year.

Chemical investment increased rapidly from January to September, and the fixed assets investment in the petrochemical industry was 951.2 billion yuan, a year-on-year increase of 0.6 percentage points from the first half. Among them, chemical industry investment was 673.573 billion yuan, an increase of 24.8% year-on-year, accounting for 70.8% of the total investment in the industry; refining investment was 100.698 billion yuan, an increase of 15.6% year-on-year; oil and gas exploration investment was 141.192 billion yuan, a year-on-year decrease of 1.4%.

In the first three quarters, the total output of major petrochemical products grew rapidly, and most products increased by more than 10%. Among them, the basic chemical raw materials, oil drilling equipment, fertilizers, chemical reagents, paints and other strong growth.

From January to September, the country’s crude oil output was 154 million tons, an increase of 2.2% year-on-year; natural gas production was 76.27 billion cubic meters, a year-on-year increase of 7.5%; crude oil processing volume was 334 million tons, an increase of 6% year-on-year; ethylene production was 11.402 million tons, a year-on-year increase of 10.1. %.

The price transmission was basically smooth In the first three quarters, the overall efficiency of the petrochemical industry was good, and the profit growth was rapid, but the growth rate narrowed. Among them, the profits of oil and gas exploration and chemical industries increased significantly, and the refining sector experienced the first cumulative loss since 2009.

In the first three quarters, the overall price level of the industry went all the way, and it began to narrow significantly in September. From January to September, the ex-factory price of petrochemical products rose by 13.5% year-on-year, 0.2 percentage point higher than that of January-August, and the trend has slowed down. The sales rate of petrochemical products was 98.2%, down 0.1% from January to June. In September, the petrochemical product sales rate was 98.2%. Overall, the convergence of production and sales is good, and the price transmission is basically smooth.

However, the increase in product profits gradually narrowed. In the first three quarters, the overall efficiency of the petrochemical industry was good and the profit growth was rapid, but the increase gradually narrowed. Among them, the profits of oil and gas exploration and chemical industries increased significantly, and the refining sector experienced the first cumulative loss since 2009.

In October, the prices of chemical products fell more than once. Of the 68 chemical products monitored by the business community, 8 products were rising in price, accounting for 11.8% of the monitored varieties; 54 products were falling in price, accounting for 79.4% of the monitored varieties.