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The value added value of the chemical industry fell 4.7 percent year-on-year in the first half of the year

2017-08-09 10:23

According to statistical data, in the first half of this year, the value-added growth rate of the chemical industry fell by 4.7 percentage points year-on-year. This indicates that the chemical industry has experienced a certain slowdown in economic growth. Among the main reasons for this may be weak demand and overcapacity. As uncertainty about the domestic and international economic situation increased, consumer demand for chemical products decreased, leading to a slowdown in the industry's growth rate. In addition, investments in the chemical industry over the past few years have increased production capacity, leading to oversupply in the market and increased price competition. This is also one of the reasons for the decline in growth rate. Therefore, chemical companies need to take appropriate measures, such as strengthening market research and improving product quality and competitiveness, to cope with the current market challenges. In addition, the government also needs to take measures to strengthen industry regulation to prevent the emergence of problems such as overcapacity and market monopolization, and to promote the sustainable development of the chemical industry.

Established in 1999, formerly known as Changzhou Xinjin Chemical Co., Ltd., quickly established its position in the market of fine chemicals, raw materials and intermediates.

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