In the first quarter of this year, the petrochemical industry continued its downward trend since the fourth quarter of last year, accumulatively achieving an industrial output value of 2,456.7 billion yuan, and the growth rate continued to fall to 16% from the new low of 22.1% in December last year. The industrial added value increased by about 11% year-on-year, slightly lower than the growth rate of industrial added value above the national scale, of which the refinery industry increased by about 6% year-on-year, and the chemical industry increased by 13.3% year-on-year.

The report shows that the petrochemical industry production maintained a steady growth in the first quarter; investment continued to maintain a steady growth since last year, the first quarter of the industry completed a total investment of 202.4 billion yuan, an increase of 33.5%, higher than the same period the whole society increased by nearly 13 percentage points in fixed assets .

In the first quarter, the profit margin of the petrochemical industry gradually narrowed. Among them, the refining industry changed its profit from the same period last year to a loss, and the profits of the chemical industry decreased by nearly 30% year-on-year.

The Development and Reform Commission pointed out that the reason for the sharp decline in the efficiency of the petrochemical industry is that this year, due to rising prices of basic commodities such as energy and the fall in the prices of most petrochemical products, they have been squeezed twice.

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