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 DEVELOPMENT OF CHINA'S INDUSTRY |
| The spread and deterioration of the international financial crisis formed comparatively large impact on Chinese petrochemical industry, with prices of products constantly falling, enterprises universally running under their production capacity, economic benefits significantly falling and such benefit indicators as production, sales, and profits in the chemical industry entering into the lane of decline. |
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| STATUS OF FOREIGN INVESTMENT |
| According to the statistics of MOFCOM, 575 foreign investment projects in Chemicals industry(Chemicals Industry (Code C26) hereinafter is in accordance with the National Economic Industrial Classification (GB/T4754-2202£©.) were newly set up in 2008, 287 less than that of the same period in the last year, and the amount of the actual utilized foreign capital reached USD 4,123,260,000, up by 42.85£¥ year-on-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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