In the next five years, China's main focus in the petrochemical sector would be on meeting domestic demand and producing higher-value end products, Gu Zongqin, president of the China National Petroleum and Chemical Planning Institute, said April 24, the second day of the 2015 China Petrochemical Innovation and Development Congress.
Gu estimated the revenue in 2015 from the chemical industry at Yuan 950 million ($153.3 million), up 13.3% from 2014 and soaring 86.6% from 2000.
The next five-year plan that will run from 2016-2020 is yet to be released, but Gu said that in the period China's ethylene capacity would grow 62% from current levels to 82 million mt/year.
Its paraxylene capacity was expected to rise to 22 million mt/year by 2020, he added.
In the next five years, China's main focus in the petrochemical sector would be on meeting domestic demand and producing higher-value end products, Gu Zongqin, president of the China National Petroleum and Chemical Planning Institute, said April 24, the second day of the 2015 China Petrochemical Innovation and Development Congress.
Gu estimated the revenue in 2015 from the chemical industry at Yuan 950 million ($153.3 million), up 13.3% from 2014 and soaring 86.6% from 2000.
The next five-year plan that will run from 2016-2020 is yet to be released, but Gu said that in the period China's ethylene capacity would grow 62% from current levels to 82 million mt/year.
Its paraxylene capacity was expected to rise to 22 million mt/year by 2020, he added.
