At the 2011 China Petroleum and Chemical Private Enterprises Development Conference held recently, Li Yongwu, president of the China Petroleum and Chemical Industry Federation, pointed out that during the “11th Five-Year Plan†period, the average annual growth rate of sales revenue of China’s private petrochemical enterprises has reached 30%. Above, it has become the main growth pole of the industry.
Chang Yuzhi, a research fellow in the chemical industry of China Investment Advisors, pointed out that although domestic private enterprises have problems such as small scale of production, lack of talents, backward management, lack of funding sources, and shortage of public resources, private enterprises have fast and flexible decision-making mechanisms and construction costs. With the advantages of low production cost, low management cost and accurate market dynamics, in recent years, the pace of China's private enterprises entering the petrochemical industry has accelerated, and the number of enterprises has increased significantly.
According to relevant statistics, there are more private enterprises in the petrochemical industry in China. As of the end of 2010, the number of petrochemical companies above designated size has reached 36,000, of which, the number of private enterprises above designated size is 31,000, accounting for more than 86% of the total number of petrochemical enterprises above designated size in China.
Chang Yuzhi pointed out that in recent years, China's privately-owned petrochemical enterprises have not only increased in quantity, but also achieved significant increases in their sales revenue and profit levels, and their market competitiveness has continued to increase. At present, the investment scale of domestic private-owned petrochemical enterprises is continuously expanding, and the technical level has also been significantly improved. Now, the investment fields of domestic private petrochemical enterprises are gradually shifting to the petrochemical upstream industries.
The "Investment Analysis and Prospect Forecast Report for China's Petrochemical Industry 2011-2015" released by China Investment Advisor shows that due to lack of funds and other reasons, China's privately-owned petrochemical enterprises have mainly gathered in the downstream of the petrochemical industry. In recent years, with the increase of capital accumulation, domestic private petrochemical enterprises are gradually expanding into petrochemical upstream areas such as ethylene, oil refining and crude oil production. At present, some privately-owned petrochemical enterprises in China have formed a competitive situation with state-owned petrochemical enterprises.
Chang Yuzhi, a research fellow in the chemical industry of China Investment Advisors, pointed out that although domestic private enterprises have problems such as small scale of production, lack of talents, backward management, lack of funding sources, and shortage of public resources, private enterprises have fast and flexible decision-making mechanisms and construction costs. With the advantages of low production cost, low management cost and accurate market dynamics, in recent years, the pace of China's private enterprises entering the petrochemical industry has accelerated, and the number of enterprises has increased significantly.
According to relevant statistics, there are more private enterprises in the petrochemical industry in China. As of the end of 2010, the number of petrochemical companies above designated size has reached 36,000, of which, the number of private enterprises above designated size is 31,000, accounting for more than 86% of the total number of petrochemical enterprises above designated size in China.
Chang Yuzhi pointed out that in recent years, China's privately-owned petrochemical enterprises have not only increased in quantity, but also achieved significant increases in their sales revenue and profit levels, and their market competitiveness has continued to increase. At present, the investment scale of domestic private-owned petrochemical enterprises is continuously expanding, and the technical level has also been significantly improved. Now, the investment fields of domestic private petrochemical enterprises are gradually shifting to the petrochemical upstream industries.
The "Investment Analysis and Prospect Forecast Report for China's Petrochemical Industry 2011-2015" released by China Investment Advisor shows that due to lack of funds and other reasons, China's privately-owned petrochemical enterprises have mainly gathered in the downstream of the petrochemical industry. In recent years, with the increase of capital accumulation, domestic private petrochemical enterprises are gradually expanding into petrochemical upstream areas such as ethylene, oil refining and crude oil production. At present, some privately-owned petrochemical enterprises in China have formed a competitive situation with state-owned petrochemical enterprises.
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