Economic operation report of petroleum and chemica

Report on the economic operation of the petroleum and chemical industry in the first three quarters

in the first three quarters, the petroleum and chemical industry overcame the downward pressure on the macro economy and achieved positive changes in the economic operation of slowing down and stabilizing. Especially in the middle and late third quarter, economic growth picked up slightly, benefits hit the bottom and stabilized, investment continued to grow rapidly, and exports showed signs of stabilizing. From January to September, the total output value of the whole industry was 8.92 trillion yuan, an increase of 10.7% year on year; Completed fixed asset investment of 1.23 trillion yuan, with a growth rate of 29.1%; The total import and export volume was 322.069 billion US dollars, an increase of 10.4%. From January to August, the total profit was 467.64 billion yuan, a year-on-year decrease of 15.0%; The main business income was 7.70 trillion yuan, an increase of 9.2%; Assets totaled 8.49 trillion yuan, an increase of 12.4%; 6.8743 million employees, an increase of 2.8%

the annual total output value is expected to increase by about 11.5%; The income growth rate is about 10%; The total profit decreased by about 11%

first, the economic operation is slow and stable

(I) the growth rate of output value has accelerated steadily

since this year, the economic growth rate has continued to decline, and gradually stabilized after reaching the bottom in July, and the growth rate began to accelerate. In September, the cumulative growth rate rose for the first time in a year, and the slight recovery trend has been initially established. According to the data of the Bureau of statistics, as of the end of September, there were 26874 Enterprises above Designated Size in the petroleum and chemical industry (enterprises with a main business income of more than 20million yuan), with a total output value of 1069.98 billion yuan in the month, an increase of 11.8% year-on-year, 5.8 percentage points faster than the previous month, and an increase of 8.6% month on month. From January to September, the cumulative output value was 8.92 trillion yuan, with a year-on-year increase of 10.7%, 0.3 percentage points higher than that from January to August; It accounts for 13.3% of the total industrial output value of the country. Quarter by quarter, the first quarter increased by 16.1% year-on-year, the second quarter increased by 9.5%, and the third quarter increased by 7.4%. From January to September, the industrial added value increased by 7.9% year-on-year, 0.3 percentage points faster than that from January to August, accounting for 14.0% of the national scale industrial added value

the growth rate of oil and gas exploitation and oil refining industry accelerated. Agricultural chemicals grew rapidly, and basic chemical raw materials and special chemicals stabilized. The eastern and western regions are growing faster. Domestic enterprises and the non-public economy maintained rapid growth

(II) major products maintained growth

energy production accelerated, and the growth rate of major chemicals gradually stabilized. From January to September, the national crude oil and natural gas production was about 220 million tons of oil equivalent, with a year-on-year increase of 2.0%, and the growth rate was 0.5 percentage points faster than that of 1 ~ 8; The total amount of major chemicals was about 343 million tons, with a year-on-year increase of 8.4%, down 0.1 percentage points from January to August

the growth rate of crude oil is accelerating, and natural gas is slowly stabilizing. Chemical fertilizers and pesticides continued to grow rapidly. Ethylene production fell, while other key products generally slowed down and stabilized

(III) higher investment growth

in the first three quarters, the fixed asset investment in the petroleum and chemical industry was 1.23 trillion yuan, with a year-on-year increase of 29.1%. The growth rate was about 10 percentage points faster than the same period of the previous year, 8.9 percentage points higher than the average growth rate of the national fixed asset investment, and the investment continued to grow rapidly

the chemical industry has the highest growth rate, and the investment in oil and gas exploitation has accelerated. In the chemical industry, synthetic materials, basic chemical raw materials and chemical mining and beneficiation increased significantly. Regional investment maintained rapid growth. In the first three quarters, there were six provinces with investment growth rates of more than 60%, namely Hainan, Gansu, Guizhou, Jiangxi, Hebei and Inner Mongolia, which were 128.3%, 94.7%, 84.5%, 67.1%, 65.7% and 60.9% respectively; Investment fell by 2, of which Beijing fell by 48.6%. The investment in Tibet was 39.5 million yuan, an increase of 6.6 times year-on-year

the investment of domestic and foreign enterprises maintained rapid growth, and Hong Kong, Macao and Taiwan continued to decline

(IV) industrial exports stabilized

the growth rate of total imports and exports fell and narrowed. Customs data showed that from January to September, the total import and export volume of the petroleum and chemical industry was 473.639 billion US dollars, an increase of 5.3% year-on-year, 0.5 percentage points lower than that from January to August, accounting for 16.7% of the total import and export trade volume of the country. Among them, the export was 129.085 billion US dollars, unchanged from the previous year, accounting for 8.6% of the total export volume of the country; At present, the import is 344.554 billion US dollars, with a year-on-year increase of 7.4%, accounting for 25.6% of the total national import. In September, the total import and export volume was US $53.142 billion, with a year-on-year increase of 1.2% and a month on month increase of 10.7%. Among them, the total export volume reached US $15.482 billion, a record high, with a month on month increase of 2.3% and a year-on-year increase of 1.2%, ending the situation of negative growth for three consecutive months. In the first three quarters, the cumulative deficit was $215.47 billion, an increase of 12.4% year-on-year

the growth of energy imports is slowing down. The decline in the export of rubber products slowed down, and the export of chemical fertilizers hit a record high in September. Imports in the central and western regions increased rapidly, while exports fell

(V) market demand stabilizes amid slowdown

since this year, the consumption growth of energy and major chemicals has generally slowed down. Data show that from January to September, China's apparent consumption of oil and natural gas was 458 million tons (oil equivalent), an increase of 5.6% year-on-year, a decrease of 0.7 percentage points over the first half of the year; The total apparent consumption of major chemicals was about 326 million tons, an increase of 8.3%, down 0.5 percentage points from January to June

oil consumption grew steadily and natural gas fell. The consumption of chemical fertilizers maintained a rapid growth. The consumption growth of basic chemical raw materials is generally slowing down, and the demand for synthetic materials is picking up

(VI) price bottomed out and rebounded

in the first three quarters, the price of the petroleum and chemical industry generally showed a continuous downward trend, but since the third quarter, the decline has slowed down and there are obvious signs of stabilization. According to the price monitoring of the Bureau of statistics, in September, the overall price level of the petroleum and chemical industry fell by 1.2% year-on-year, 2.8 percentage points lower than that of the previous month. By industry, the oil and gas exploitation industry fell by 4.3%; The oil refining industry rose 0.8%; The chemical industry fell by 3.3%. From January to September, the ex factory price of producers in the petroleum and chemical industry increased by 1.1% year-on-year, 0.3 percentage points lower than that from January to August, and the price stabilized significantly

in September, the sales rate of products in the petroleum and chemical industry was 98.3%, down 0.8 percentage points from the previous month. Among them, the sales rate of oil and gas exploitation is 99.9%, oil refining industry is 99.1%, chemical industry is 97.1%, and special equipment manufacturing is 96.7%. From January to September, the cumulative sales rate of products in the petroleum and chemical industry was 98.1%, unchanged from January to August

Second, the main problems in economic operation

(I) the benefits have declined significantly

since this year, the benefits of the whole industry have continued to decline. From January to August this year, the total profit of the petroleum and chemical industry was 467.64 billion yuan, a year-on-year decrease of 15.0%, higher than the average decline of 3.1% in the profits of national scale industries. Among them, the total profit of the chemical industry decreased by 18.4% year-on-year; The profit of oil and gas exploitation industry also declined, with a decrease of 3.2%, the first decline since 2010; By August, the oil refining industry had accumulated losses for 13 consecutive months, amounting to 32.319 billion yuan, which will continue until the end of the year

the reason for the sharp decline in industrial efficiency is, on the one hand, the slowdown in demand and the decline in prices. But basically, the product structure is unreasonable, the competitiveness is weak, and the management innovation is not enough. This problem is more obvious in the chemical industry. When the market is good, contradictions are often covered up. Once the crisis comes, contradictions will become prominent. At present, the biggest decline in profits is precisely the three industries of organic chemical raw materials, synthetic materials and specialty chemicals, which have developed rapidly in recent years. In 2011, the sum of the profits of the three accounted for nearly 60% of the total profits of chemical industry, and the profit growth rate was more than 20%; In the first eight months of this year, profits fell by 55%, 50% and 18% respectively, accounting for about 46%. From January to September this year, China's demand for major chemicals has maintained a growth rate of more than 8%, with imports of more than 25million tons of organic chemicals and more than 23million tons of synthetic resins, all hitting a record high in the same period. It should be said that there is no major problem in domestic market demand. The key is that our products are seriously homogenized with these imported products, and it is difficult to stick to and consolidate our position in the competition

(II) industry costs continue to rise

since this year, transportation, environmental protection, labor, water and electricity and other costs have continued to rise, and cost pressures have continued to rise. Data show that from January to August, the sales cost of the petroleum and chemical industry was 6.41 trillion yuan, an increase of 11.5% year-on-year, 2.3 percentage points higher than the revenue growth; The cost of main business income per 100 yuan was 83.30 yuan, an increase of 1.74 yuan year-on-year. Among them, the sales cost of the chemical industry was 3.89 trillion yuan, an increase of 12.1%, and the cost of main revenue per 100 yuan reached 87.11 yuan, an increase of 1.35 yuan over the same period last year

in addition, taxes and fees have increased rapidly and enterprises have a heavy burden

(III) the problem of supply exceeding demand is prominent

at present, China's total chemical production capacity is relatively surplus, especially some bulk products. The latest data shows that in September this year, the average utilization rate of methanol plant is about 55%, that of caustic soda plant is about 75%, that of soda plant is about 72%, that of calcium carbide is about 76%, and that of PVC is about 60%. It is noteworthy that some industries with serious overcapacity are still expanding. The disorderly expansion of production capacity not only causes a serious waste of resources, but also restricts the adjustment of products and industrial structure

III. the macroeconomic situation is complex and severe

(I) the world economic recovery is tortuous and difficult

since this year, the European debt crisis has intensified, the economic growth of major countries and regions has continued to slow down, and the world economic recovery is tortuous and difficult. Recently, international institutions have lowered their global economic growth forecasts for this year and next. According to the latest world economic outlook report released by the International Monetary Fund (IMF) in Tokyo on October 9, the global economic growth rate is expected to be 3.3% in 2012 and 3.6% in 2013, 0.2 and 0.3 percentage points lower than the forecast in July this year. IMF tends to be pessimistic about the trend of the global economic outlook

(II) domestic economic operation gradually stabilized

economic growth fell and narrowed. In the first three quarters, the GDP was 35348 billion yuan, an increase of 7.7% year-on-year at comparable prices. Among them, the Rockwell hardness increased by 8.1% in the first quarter, 7.6% in the second quarter and 7.4% in the third quarter. From January to September, the added value of large-scale industries increased by 10.0% year-on-year. Among them, the growth rate in September was 9.2%, 0.3 percentage points higher than that in August, showing a stabilizing trend. From January to September, the national fixed asset investment (excluding farmers) was 21.80 trillion yuan, with a year-on-year increase of 20.2%, continuing the trend of steady growth; The total retail sales of social consumer goods was 14.94 trillion yuan, an increase of 14.1%, the same as that from January to August, and continued to grow steadily and rapidly; The total import and export volume was 2.84 trillion, and the high-voltage and high-power insulated gate bipolar transistor (IGBT) module used design dollars, with a year-on-year increase of 6.2%, the increase rate was the same as that from January to August, showing positive changes to stabilize. The trend of price stabilization is obvious. The leading index rebounded again

in the first three quarters, China's macroeconomic operation has shown an obvious trend of stabilization. With the gradual implementation of macro-control policies, this situation will be further consolidated in the fourth quarter

(III) the development of major related industries is generally stable

1 The growth rate of the coal industry has slowed down. The data shows that from January to September, the sales output value of the coal industry was 2.16 trillion yuan, with a year-on-year increase of 12.0%, and the growth rate was 1.5 percentage points lower than that from January to August; The added value increased by 9.9% year-on-year, and the growth rate was 0.4 percentage points lower than that from January to August. Among them, the growth rate of added value in September was 8.3%, 3.8 percentage points higher than that of the previous month. In the first three quarters, China's total coal consumption was about 3.02 billion tons, an increase of 2.8% year-on-year, of which the chemical industry consumed about 140 million tons of coal, an increase of 6.5% year-on-year, and continued to maintain the fastest growth rate among the four major coal consuming industries

2. The economic growth of the automobile industry is stable. According to statistics, from January to September, the sales output value of the national automobile manufacturing industry was 3.63 trillion yuan, an increase of 12.3% year-on-year, continuing the steady trend since the second half of the year; The added value increased by 9.7% year-on-year, 0.7 percentage points slower than that from January to August. The production and sales of automobiles kept growing. In the first three quarters, China's total automobile production