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 DEVELOPMENT OF CHINA'S INDUSTRY |
| Since China is in the phase of heavy chemical industry and undergoing urbanization, all sectors of the national economy, especially such industries as infrastructure, energy and transportation, construction, electronics and automobile keep a robust demand for energy and chemical raw materials, which boost a stably rapid development of the petrochemical industry. |
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| STATUS OF FOREIGN INVESTMENT |
| According to the statistics released by Ministry of Commerce, in 2006 there were 1,202 projects using foreign investment in chemical industry, down 21.28% under the same period of the previous year. The actually used foreign capital amount was 2.64 billion USD, down 6% under the previous year. |
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| COMMITMENTS TO THE WTO AND INTERNATIONAL PRACTICES |
| Along with china's accession to the WTO, the tariffs on imported chemical products will decline prominently. |
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| DEVELOPMENT OF GLOBAL INDUSTRIES |
| In 2006, global chemical industry acquisition kept advancing triumphantly. As shown in latest report from investment bank Young & Partners in New York, the first three quarters of 2006, global chemical industry acquisition valued more than .32 billion US dollars , the total value of 2005. We can see 2006 acquisition showed following prominent features. |
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