Petrochemical industry becomes most profitable in China
( 2003-12-29 22:04) (Xinhua)
China's petrochemical industry, with profits of
159.8 billion yuan (US$19.3 billion) from January to November, has become the
most profitable industry in China, according to figures from the State
Development and Reform Commission.
The petrochemical industry, followed by the machine, light industry, power
and metallurgical industry in profits rankings, increased profits by 50.2
billion yuan over the same period last year.
The profits of the machine industry totaled 135.3 billion yuan, 50.7 per cent
of which was contributed by China's booming auto industry.
Light industry realized profits of 106.4 billion yuan, and the power industry
63.2 billion yuan.
China, as the first country to produce over 200 million tons of steel
annually, also saw metallurgical industry profits soar to 59. 3 billion yuan in
the first 11 months, up 31.4 billion yuan from the same period last
year.
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