Petrochemical industry is a key industry in China. Under the 12th Five-Year Plan, China planned to build a number of large-scale petrochemical complexes, with an increase of ethylene capacity of 12 million metric tons, which would greatly enhance the capacity of general plastics, synthetic fibers and synthetic rubbers. However, during the global economic downturn in the past few years, China's economic growth rate also fell below 7%. Under such economic condition, China's growth rate in the petrochemical market has declined, and with the rapid increase in production capacity, many petrochemicals are facing the problem of oversupply.
I. Change of China’s petrochemical product operation rate in the 12th five-year
II. Prospects for the development of petrochemical products under the 13th five-year plan
III. Conclusions
Table 1: Change of China’s petrochemical product operation rate between 2011 and 2015.