A few days ago, the Ministry of Industry and Information Technology announced that in 2009 it will implement support policies for nine industries affected by the financial crisis, such as light industry, textiles, steel, non-ferrous metals, automobiles, petrochemicals, ships, electronics and communications. Combined with the current analysis of the overall operation of the petrochemical industry, there are industry speculations related to export tax rebates. The Ministry of Industry and Information Technology has proposed seven proposals to the State Council on the prominent contradictions and major problems currently faced by the petrochemical industry, including a new round of import and export tariff adjustments for petrochemical products. It is proposed to increase the export tax rebate rate for some high value-added products, and the export tax rebate rate for 16 products such as synthetic resin and synthetic rubber will increase from 5% to 11%. There is no doubt that a series of macro-control policies will start another round of industrial restructuring of the petrochemical industry.
Recently, some experts said that from the current global economic situation, the petrochemical industry in the next two years is not optimistic. However, with the implementation of relevant national policies, next year the adjustment of industrial structure, product structure, enterprise's own structure and merger and reorganization of enterprises will be very active. In 2009, it will become the year of structural adjustment of the petrochemical industry.
In the past, the overcapacity of some enterprises’ production capacity expansion has made it difficult to sustain capital constraints. Strengthening independent innovation and proactively adjusting product mix are the best ways for companies to cope with the crisis. The industry can actively seek development through M&A and restructuring. The pace of industrial restructuring will be further accelerated next year. .
At present, the economic operation of the industry is still deteriorating. Due to the rapid decline in demand for international petrochemical products, severely impeded exports, and a noticeable weakening of domestic market demand, the impact of policy losses on refineries and fertilizer companies, the impact of the financial crisis on the industry will further deepen, and the petrochemical industry may experience sharp declines in growth. The industry will experience negative growth. The two quarters of next year will be the most difficult period. However, with the implementation of the favorable taxation policy and the gradual launch of domestic projects to stimulate domestic demand, it is expected that around August next year, the industry will usher in a wave of rally. However, it should be noted that the impact of the financial crisis on China is far greater than the impact of the Asian financial crisis in 1998. At present, the impact of the financial crisis on China has not yet bottomed out, and the impact on the industry economy will likely continue for two years.
Recently, some experts said that from the current global economic situation, the petrochemical industry in the next two years is not optimistic. However, with the implementation of relevant national policies, next year the adjustment of industrial structure, product structure, enterprise's own structure and merger and reorganization of enterprises will be very active. In 2009, it will become the year of structural adjustment of the petrochemical industry.
In the past, the overcapacity of some enterprises’ production capacity expansion has made it difficult to sustain capital constraints. Strengthening independent innovation and proactively adjusting product mix are the best ways for companies to cope with the crisis. The industry can actively seek development through M&A and restructuring. The pace of industrial restructuring will be further accelerated next year. .
At present, the economic operation of the industry is still deteriorating. Due to the rapid decline in demand for international petrochemical products, severely impeded exports, and a noticeable weakening of domestic market demand, the impact of policy losses on refineries and fertilizer companies, the impact of the financial crisis on the industry will further deepen, and the petrochemical industry may experience sharp declines in growth. The industry will experience negative growth. The two quarters of next year will be the most difficult period. However, with the implementation of the favorable taxation policy and the gradual launch of domestic projects to stimulate domestic demand, it is expected that around August next year, the industry will usher in a wave of rally. However, it should be noted that the impact of the financial crisis on China is far greater than the impact of the Asian financial crisis in 1998. At present, the impact of the financial crisis on China has not yet bottomed out, and the impact on the industry economy will likely continue for two years.
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