China's petroleum and chemical industry's economic operation is generally stable

In April, the economic operation of China's petroleum and chemical industry was generally stable. The production of oil and gas and major chemicals in the country is basically stable; foreign trade and investment have maintained growth, and consumption growth has been stable. However, the downward pressure on the industry economy is still very high; the cost is high, and the decline in efficiency is still large.

It is worth noting that the growth rate of investment in the chemical industry slowed down in the first four months. According to data released by the National Bureau of Statistics, from January to April, fixed assets investment in chemical raw materials and chemical products manufacturing increased by 5.5% year-on-year, 5.8 percentage points slower than January-March.