Sinopec Federation released the latest data on economic operation in 2011

On February 6th, the China Petroleum and Chemical Industry Federation released the latest statistics. In 2011, the total output value of the 26,632 large-scale enterprises in the oil and chemical industry (enterprises with a main income of over 20 million yuan) was 11.28 trillion yuan, which was an increase over the previous year. 31.5%, accounting for 13.2% of the country's total industrial output value. All major economic indicators maintained rapid growth.

On the whole, the structure of economic growth in the industry was further optimized in 2011, the benefits were further improved, and the quality of operations further improved. The import and export of the industry continued to grow rapidly, the investment stabilized, the market supply and demand remained basically stable, and the goal of a good start in the “Twelfth Five-Year Plan” was achieved. The annual fixed asset investment was 1.43 trillion yuan, an increase of 23.4% over the previous year. The total volume of imports and exports was 607.146 billion U.S. dollars, an increase of 32.3% over the previous year, accounting for 16.7% of the total import and export trade volume of the country, of which imports accounted for about 25.0%, exports accounted for 9.1%, and the trade deficit was 262.446 billion U.S. dollars, an increase of 38% over the previous year. From January to November 2011, the industry's total profit was 735.702 billion yuan, up 18.0% year-on-year, accounting for 15.8% of the total national industrial profits for the same period.

In terms of sub-industries, the oil and gas exploration industry has enjoyed rapid economic growth and good economic returns. As of the end of December 2011, there were 276 companies above designated size in the oil and gas exploration industry. The cumulative total output value for the year was 1.33 trillion yuan, which was an increase of 32.2% over the previous year and accounted for 11.78% of the industry's total output value.

The scale of the petroleum processing industry continued to expand, but the industry as a whole suffered losses due to the impact of refined oil price regulation. The cumulative total output value of 1,228 large-scale enterprises was 3.06 trillion yuan, an increase of 26.3% over the previous year, accounting for 27.15% of the industry's total output value.

The rapid growth of the chemical industry economy has further enhanced its overall strength. The number of enterprises above designated size in the chemical industry was 24,129, with a cumulative total output value of 6.62 trillion yuan, an increase of 33.9% over the previous year, accounting for 58.64% of the industry's total output value; the three major sectors of special chemicals, basic chemical raw materials and synthetic materials remained relatively fast increase. From January to November 2011, the total profit of the chemical industry was 357.674 billion yuan, a year-on-year increase of 35.7%, accounting for 48.62% of the total industry's total profit.

The special equipment manufacturing industry achieved stable and rapid growth. There are 1199 enterprises above designated size, with a cumulative total output value of 274.42 billion yuan, an increase of 32.8% over the previous year, accounting for 2.43% of the industry's total output value.

In 2011, the output of major petroleum and chemical products maintained a relatively rapid growth. Among them, caustic soda, calcium carbide, methanol, pure benzene, agrochemicals, oil drilling equipment, chemical reagents, paints and other products have a larger increase in output. The total amount of major chemicals in the country reached 418 million tons, an increase of 12.9% over the previous year, an increase of 1.6 percentage points over the previous year.

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