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Petrochemical industry income declines in December

By Wan Zhihong (chinadaily.com.cn)
Updated: 2009-02-13 14:11

China's petrochemical industry today posted negative growth in income for December 2008, the first decline in ten years, said an industry association.

Total turnover in the sector in December 2008 fell 6.8 percent from a year earlier, reflecting the accelerated slowdown since last September after the outbreak of the global financial crisis, said China Petroleum and Chemical Industry Association in a report today.

China's petrochemical enterprises posted a combined turnover of 6.58 trillion yuan ($963.4 billion) for 2008, an increase of 24 percent from a year earlier.