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According to Liu Fujiang, in the first quarter, the six high-energy-consuming industries such as petroleum processing, coking, and chemical industry increased by 20.6%, 2.3% faster than the national-scale industry, and 6.6 percentage points higher than the same period of last year. Among them, petroleum processing and coking increased by 10.6%, accelerating by 7 percentage points; chemical industry increased by 22.1%, accelerating by 3.9 percentage points. Liu Fujiang pointed out that because the energy consumption of the six high energy-consuming industries such as chemical industry accounted for nearly 70% of the national industrial energy consumption, its high growth rate of production will inevitably adversely affect the national energy conservation and emission reduction situation this year.
The China Petroleum and Chemical Economic Information Express also showed that in the first two months of this year, the number of 65 (class) petroleum and chemical products that were tracked by key production increased 54 times over the same period of last year, accounting for 83.1%, of which, the increase was more than 20%. There are 25 species, accounting for 38.5%. In addition, the analysis of the signing of the petrochemical project started and put into production in the first quarter was characterized by its large scale, which involved 10 million tons; the investment was large and the investment amount was over 100 million yuan: On January 10, 11 monomer investments were all above 10 million US dollars. The large chemical project started at the same time in Nanjing Chemical Industrial Park with a total investment of US$430 million; on February 25, the Fujian Refining and Ethylene Integration Project with a total investment of 35 billion yuan officially signed a joint venture contract; on March 16th, Shenyang 30 Ten thousand special tire construction projects were put into production with a total investment of RMB 4.3 billion. On March 28, Guangbo Petrochemical's 10 million tons refining project completed “three links and one leveling†with a total investment of RMB 15.3 billion.
Li Yongwu, president of the China Petroleum and Chemical Industry Association, said earlier this month that in recent years, the petroleum and chemical industries have brought about a surge in capacity building, especially in regions with rich energy and resources in the central and western regions, and large-scale projects are under planning and construction. The chemical base is relatively large, leading to increased pressure for energy conservation and environmental protection. If this trend continues to increase, some sub-sectors may experience excess capacity.
According to the forecast of the 2007 China Petroleum and Chemical Economic Situation Conference, China's oil and chemical industry is expected to maintain a growth rate of more than 20% this year.
In the first quarter of the year, China’s economy grew by 11.1% year-on-year, an acceleration of 0.7 percentage points from the same period of last year. The important reason is that large-scale energy-consuming households represented by petrochemicals still maintain a relatively high level of growth, which is much higher than the same period of last year. This is the information provided by Liu Fujiang, Director of the Bureau of Industry and Commerce of the National Bureau of Statistics, at the third meeting of the Second Council of China Petroleum and Chemical Industry Association on the 19th.