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China’s chemical fiber industry reports output growth

Abstract : China's chemical fiber industry registered an output increase but saw lower revenues and profits last year, official data showed.

BEIJING, March 7 (Xinhua) — China’s chemical fiber industry registered an output increase but saw lower revenues and profits last year, official data showed.

The country’s chemical fiber output reached 60.25 million tonnes, up 3.4 percent year on year, according to data from the Ministry of Industry and Information Technology (MIIT).

The combined operating revenue of major chemical fiber companies dropped by 10.4 percent year on year to 798.42 billion yuan (about 123.02 billion U.S. dollars), while profits of these enterprises shrank by 15.1 percent to 26.35 billion yuan from a year earlier, the MIIT data showed.

Major chemical fiber companies refer to those with an annual business turnover of at least 20 million yuan. Enditem

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Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal. China’s silk road economic belt and the 21st century maritime silk road website, include BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: China’s chemical fiber industry reports output growth

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