Chemical industry is a branch of the pillar industry of the national economy, and its development is closely related to the national economic situation. In recent years, the economic income of the chemical industry has continued to decline. In the first half of 2020, the operating income will decline by 10%, and the total profit will decline by 30%. The environmental protection policy forces the upgrading of industry structure. While implementing green transformation, it also eliminates industries with backward production capacity and optimizes the structure. In the long run, it is an important measure to promote the healthy development of the industry.
The operating efficiency continued to deteriorate, and the operating income continued to decline in the past three years. In 2019, the operating income of the chemical industry was 6.89 trillion yuan, down 0.9% year on year. In the first half of 2020, due to the impact of COVID-19, the overall demand tended to decline, and the operating income was only 2.93 trillion yuan, a year-on-year decrease of 10.5%.
In terms of profits, in recent years, the industrial operating income has continued to decline. In the first half of 2020, the total accumulated profits of China's chemical industry amounted to 133.44 billion yuan, a significant decline of 32.6% year on year.
From the perspective of industrial environmental protection policies, it has always been the focus of environmental protection supervision. Policies and regulations are issued intensively, which puts forward stricter production emission requirements for the industry. In July 2020, the 14th Five Year Plan Guide for Petrochemical and Chemical Industry pointed out that during the 14th Five Year Plan period, the industry will continue to implement the concept of innovation, coordination, green, open and shared development, and adhere to the basic national policy of saving resources and protecting the environment. Continue to promote the relocation and transformation of hazardous chemical production enterprises, and standardize the construction and development of chemical parks.
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