China's petrochem stimulus plan gets govt, go-ahead

摘要

AS China's economy witnessed a significant slowing down in the last quarter, the Chinese Government has given a go-ahead to the stimulus package for mainland's petrochemical industry, the State Council proclaimed in a statement on its official web portal. In November last year, the government announced to inject approximately US585 bln (CNY 4 trillion) in the petrochem industry to aid China's economy. China Petroleum and Chemical Industry Association (CPCIA) reported that mainland's petrochem industry witnessed a first slide in a decade while showing negative income growth in December 2008.