Beijing – A report by China’s Ministry of Industry and Information Technology pegs the chemical industry’s profit growth in 2015 at 7% - to RMB470bn ($76m), against the backdrop of a mere 0.33% rate in 2014.
"We've looked into the projected 2015 operational data of 57 key chemical companies," said the ministry to UTECH-polyurethane.com.
"The predicted profit is also based on an over 7% GDP growth in 2015, medium-to-low oil price during the year and new opportunities brought by recent regional stimulus plans," the ministry added.
Such plans include three packages for the Silk Roads area, the Yangtze Delta, and the Greater Beijing Area.
As previously reported at UTECH-polyurethane.com, China's chemical industry revenue growth rate dropped by 4.7% in 2014 compared to 2013.
XE Currency conversion: 8 April, 2015