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China Knowledge quoted according to data from the National Development and Reform Commission, the petrochemical industry in China continued to slow down in the first four months with its total gross output rising at a slower growth of 14.7% YoY to CNY 3.36 trillion in the period.

The industry saw its value-added output grew about 10% YoY in the four-month period. The value-added output of oil refining sector rose 5.3% YoY and that of the chemical sector increased 12.4%.

The country processed 152.83 million tonnes of crude oil in the first four months up by 2.9%YoY. The output of oil products rose 5.3% to 92.40 million metric tons, and that of chemical fertilizer grew 15.3% to 23.46 million tons.

The country's investment in the petrochemical industry increased 33.7% YoY to CNY 325.1 billion in the period, comprising CNY 40.6 billion in the oil refining sector and CNY 268.6 billion in the chemical sector.

The industry saw its export and import value grow only 5.7% YoY to USD 96.2 billion in the first quarter, slowing from a 27.7% growth in the same period of last year.