China Announces Increase in Petrochemical Output

China's petrochemical output surged 35.3% between January and September 2010 to 6.33tn yuan ($948.9bn), according to statistics from China Petroleum and Chemical Industry Federation (CPCIF).

The growth in petrochemical sector contributed 12.55% of the gross industrial output of China.

The chemical sector grew by 32.3% during the nine-month period to 3.72tn yuan ($557.6bn) compared to the same period in 2009.

CPCIF expects China's petrochemical sector to generate a gross output of 2.28tn yuan ($341bn) in the fourth quarter this year, up by 17.8% compared to the same period last year.

Growth in the petrochemical sector is expected to increase the output for 2010 to 8.6tn yuan ($1.28tn), up by 29.5% compared to 2009, according to