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Chemical profits increased by 51.5% from January to November last year
According to the latest data released by the National Bureau of Statistics on January 24, the chemical industry saw a remarkable 51.5% year-on-year increase in profits from January to November 2007. Analysts predict that sales of petroleum products and cosmetics will each grow by over 20% annually, reflecting strong demand in key sectors.
During a recent briefing, it was highlighted that China's national economy continued to develop steadily and rapidly in 2007, showing a positive trend of robust growth, structural improvements, enhanced efficiency, and improved living standards. Preliminary figures show that the country's GDP reached 24.669 trillion yuan, representing an 11.4% annual increase—up by 0.3 percentage points compared to the previous year. This marks the fifth consecutive year of double-digit GDP growth, demonstrating sustained economic momentum.
Another report revealed that all 39 industrial sectors in China turned a profit in 2007. The added value of large-scale industrial enterprises grew by 18.5% year-on-year, with state-owned and state-controlled enterprises increasing by 13.8%, collective enterprises by 11.5%, and joint-stock enterprises by 20.6%. By November, the profit of large-scale industrial enterprises reached 229.51 billion yuan, up 36.7% compared to the same period last year.
At a press conference, Xie Fuzhan, director of the National Bureau of Statistics, noted that while the economy is performing well, there are still challenges. He pointed out that the risk of economic growth shifting from overheating to excessive growth remains a concern. Inflationary pressures have risen, and structural imbalances persist. Additionally, the reliance on extensive development models and incomplete institutional mechanisms continue to pose obstacles to sustainable growth.