The figure was calculated based on the adjusted working days in the first two months, since China’s Lunar New Year holiday fell in February last year, but in January this year.
MIIT official Zhu Hongren said that although the output expansion was marginal, the contracting trend for the production of major chemical products was eased. Of the major 30 chemical products monitored by the ministry, 21saw output falling in the first two months, but the falling rate was slowed down from that in December. In addition, three products saw its output get back to growth.
One reason for the higher output is the « Spring Plough » season, which resulted to the output of major three chemical fertilizer rose 4.6 percent to 8.75 million tonnes through January to February.
Other chemicals for use in farming are pesticides which produced 9.1 percent more to 394,000 tonnes in the first two months, and that for February alone jumped 14.4 percent.
Zhu Hongren said that despite the easing contraction, it was too early to be optimistic, since the chemical industry went through the most difficult condition compared with other raw material producing sectors.
China’s industrial output rose 5.2 percent year on year in the first two months, with the growth slowing from December, MIIT said last week.
The figure was 0.5 percentage point lower than in December, pulled down by low exports and high inventories, according to MIIT.
Experts said the figure is proof that the Chinese industry is still feeling the difficulties of the global downturn.
Source : Konaxis
