p>Norbert Meyring KPMG s partner in China pointed out that economic stimulus package plan would continue exerting positive effect on China s chemical industry. Especially the large investments in real estate and automobile industry would efficiently promote the growth of the chemical industry.
Meyring predicted by referring to statistics from CPCIA that output value and sales in China s petrochemical industry would maintain double digit growth this year. In 2009, output value in rose to Rmb 66.3 billion, up 0.3% compared with same period.
With economic recovered, output was predicted to increase by 13%-15% this year while the investment in the industry would climb up by 15%. Meanwhile, domestic demand for relevant petroleum products in automobile, textile and construction materials industries was expected to rise rapidly due to double digit growth in the investment in these industries.
China Chemical Weekly: http://news.chemnet.com/en/detail-1411716.html
