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DEVELOPMENT OF CHINA'S INDUSTRY
In 2008, China's petroleum demand remained relatively rapid growth, with annual petroleum consumption of 389.65m tons, up 6.5% year-on-year; the net import of petroleum was 199.85m tons, up 12.5% year-on-year; the degree of dependence on foreign trade in petroleum further increased, reaching 51.3%. The output of crude oil was 189m tons, with an increase of 1.07% year-on-year.
The import of petroleum in 2008 continuously maintained a rapid growth, and the degree of dependence on foreign trade break 50%, which became an important feature in the oil market. The accumulated import of oil (including fuel oil (3129, -69.00, -2.16%)) was 218.53m tons, with an increase of 21.56m tons compared with 2007, up 10.9%. Among them, the accumulated import of crude oil totaled in 178.88m tons, with an increase of 15.71m tons year-on-year, up 9.6%; the accumulated export of oil was 18.68m tons.
The domestic petroleum market had large ups and downs in 2008, which showed the following characteristics:
In 2008, the oil demand was extremely uneven, and there was shortage of supply in the first half of year and weakness of market in the second half of year. Compared on quarterly basis, the demand in the second quarter was the largest, with apparent consumption of 100.44m tons, and then it declined quarter by quarter. Secondly, the supply of processed oil still maintained a rapid growth, but the growth rate decreased, and imbalance was shown in growth of coastal areas and inland areas.
In prices of crude oil, the average price for import of crude oil was USD723.03 per ton in 2008, increasing USD234.1 compared with the USD488.9 in 2007, and the range of rise was 47.9%. The average price for export of crude oil was USD716 per ton, increasing USD282.3 compared with that in 2007, and the range of rise was 65.1%. The average importing price of processed oil was USD358.9 per ton, decreasing USD127.3 compared with the USD486.3 in 2007, and the range of decrease was 26.2%. The average exporting price of processed oil was USD802 per ton, increasing USD212.1 compared with the USD589.9 in 2007, and the range of rise was 36%.
In 2008, under the influence of the loss in domestic crude oil processing and the VAT return of processing the imported oil, the domestic crude oil production was affected on some level in the first half of 2008, especially in the second quarter; the output of the first half of 2008 rose 1.7% year-on-year, while the output in the second quarter only grew 0.8% year-on-year. In the second half of 2008, the profit of crude oil processing increased at home, and the growth rate of crude oil production picked up.
In 2008, 50% of China’s imports of crude oil was from countries of the Middle East, with import volume of 89.7m tons, increasing 16.96m tons, up 23.3%; the imports from Africa was in the second place, with import volume of 53.95m tons (accounting for 30%), increasing 900,000 tons, up 1.7%; import volume from Europe and the Western Hemisphere was 30.25m tons (accounting for 16.9%), decreasing 1.38m tons, down 4.4%; import volume from the Asia-Pacific region was 4.98m tons (accounting for 2.8%), decreasing 760,000 tons, down 13%. In the countries for imports, the top five were Saudi Arabia (36.37m tons), Angola (29.89m tons), Iran (21.32m tons), Oman (14.58m tons) and Russia (11.64m tons).
STATUS OF FOREIGN INVESTMENT
According to the statistics of MOFCOM, 30 foreign investment projects in Petrochemicals industry(Petrochemicals Industry (Code C25) hereinafter is in accordance with the National Economic Industrial Classification (GB/T4754-2202）.) were newly set up in 2009, 4 more than that of the same period in the last year, and the amount of the actual utilized foreign capital reached USD 333,020,000, down by 51.55％
year-on-year. The number of newly established foreign invested enterprises and the amount of the actual utilized foreign capital accounted for 0.13％and 0.37％
of the national total number or amount of foreign capital absorption in the Petrochemicals industry during the same period.
According to the source of foreign capital, calculated by the amount of the actual utilized foreign capital, in 2009, countries or regions: Hong Kong, Saudi Arabia, Bahamas, Singapore, United States ranked No.1 to No. 5 in the Petrochemicals industry regarding the amount of FDI, accounting for 30.06%, 23.87%, 23.87%, 4.5%, 3.57% of the total amount of the actual utilized foreign capital of the industry separately.
In Petrochemicals industry in 2009, ten Asian countries/regions (Hong Kong, Macau, Taiwan, Japan, Philippines, Thailand, Malaysia, Singapore, Indonesia and Korea) newly set up 23 enterprises in China, with the actual utilized foreign capital of USD 132,470,000, up by 15％
and down by 2.19％
separately year-on-year. The number of the newly established enterprises and the actual utilized foreign capital accounted for 76.67％
and 39.78％
of the national total number or amount of foreign capital absorption in the same period.
According to regional foreign capital absorption, 25 foreign-invested Petrochemicals enterprises were newly set up in the Eastern area, with actual utilized foreign capital of USD 319,210,000, accounting for 83.33% and 95.85% of the national total number or amount of foreign capital absorption in the same period. In the Eastern area, Fujian Province, Jiangsu and Zhejiang Province ranked among the tops with respect to actual utilized foreign capital, with the actual utilized foreign capital of USD 160,930,000, USD 61,340,000 and USD 32,830,000, accounting for 48.32%, 18.42% and 9.86% of the total amount of the actual utilized capital of the industry in the Eastern area separately. Among them, Jiangsu Province and Zhejiang Province had 7 and 4 newly established foreign-invested enterprises separately.
3 foreign-invested Petrochemicals enterprises were newly set up in the Central region, with actual utilized foreign capital of USD 3,950,000, accounting for 10% and 1.19% of the national total number or amount of foreign capital absorption in the same period. In the Central region, Henan Province, Hubei and Jilin Province ranked among the tops with respect to actual utilized foreign capital, with the actual utilized foreign capital of USD 2,000,000, USD 1,700,000 and USD 250,000, accounting for 0.6%, 0.51% and 0.08% of the total amount of the actual utilized capital of the industry in the Central region separately.
2 foreign-invested Petrochemicals enterprises were newly set up in the Western area, with actual utilized foreign capital of USD 9,860,000, accounting for 6.67% and 2.96% of the national total number or amount of foreign capital absorption in the same period. Inner Mongolia Autonomous Region, Sichuan Province and Chongqing ranked among the tops with respect to actual utilized foreign capital, with the actual utilized foreign capital of USD 7,600,000, USD 1,260,000 and USD 1,000,000, accounting for 2.28%, 0.38% and 0.3% of the total amount of the actual utilized capital of the industry in the Western area separately.
According to utilizing manners of the foreign capital, newly established projects of Petrochemicals industry in 2009 are as follows : 14 Chinese-foreign equity joint venture projects, 16 wholly foreign-invested projects. The amount of the actual utilized foreign capital reached USD 205,140,000 and USD 127,880,000 separately．
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