Currently accounting for 90% of all large-scale enterprises in the sector, China's private petrochemical and chemical enterprises employ 80% of the industry's workforce and generate over 50%  of its revenue, according to Li Yunpeng, Party Secretary of the China Petroleum and Chemical Industry Federation. The top 100 private petroleum and chemical companies employed 763,000 people in 2023, a 16.64-fold increase compared to 2014. Their tax contributions also surged, with total taxes reaching 294.2 billion yuan ($40.54 billion) in 2023, an 11.2-fold increase since 2014. In the first nine months of 2024, the sector's revenue reached 12.02 trillion yuan, up 3.5 percent year-on-year. However, profits fell by 10.2 percent, reflecting challenges such as rising production pressures. (ICE PECHINO)

Fonte notizia: China Daily