Bright prospects ahead for petrochemical firms

The country's petrochemical industry may see a 13 to 15 percent year-on-year growth in turnover this year, thanks to the economic recovery, an industry association said yesterday.

Full-year profit for the sector will rise 8 to 10 percent, according to China Petroleum & Chemical Industry Association (CPCIA).

"The solid rebound in the petrochemical industry is mainly due to the economic recovery," said Feng Shiliang, deputy secretary of CPCIA. With forecasts indicating a robust industrial recovery, the petrochemical industry is all set to achieve the target, he said.