(MENAFN) According to data released by the China Petroleum and Chemical Industry Federation (CPCIF), China's petrochemical industry's revenue will hit USD2.36 trillion by year-end, QNA reported.
CPCIF head said that business revenue in the January-September period this year hit USD1.63 trillion, up 7.7 percent on year, accounting for 13.1 percent of all industrial revenue, according to China's (Xinhua) News Agency.
Meanwhile, the industry's fixed asset investment increased 11.2 percent to USD260.61 billion and exports climbed up 6.2 percent to USD83.60 billion in the first three quarters of 2014.
However, China's petrochemical industry still faces the problem of overcapacity and the added value of science and technology is relatively low, which results in weak profitability.
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