China's chemical enterprises released their third-quarter financial reports recently, showing a strong growth momentum during the said quarter.
Analysts said the lower prices for raw materials had attributed to the growth.
Chemical engineering behemoth China Fangda Group Co., Ltd. realized a 188-percent surge year on year to 120 million yuan (17.23 million U.S. dollars) in net profits attributable to its shareholders while its counterpart Shanghai Huayi (Group) Company reported a 315.41-percent increase in its net profits to end at 1.597 billion yuan (229 million U.S. dollars).
Small and medium-sized companies like Shanxi Tond Chemical Co., Ltd. increased its net profits by 73.62 percent year on year to 72.6 million yuan (10.42 million U.S. dollars).
Qualified foreign institutional investors (QFII) have invested heavily in the chemical industry in China, with 10 out of the 44 most favorable shares lying in the chemical engineering sector.
Stimulated by the supply-side structural reform as well as the chemical products' price hikes, the chemical shares in China will maintain a strong momentum in the future, said Chinese analysts.
As part of the nation's efforts to cut excess capacity as well as protecting the environment, chemical engineering products have seen products price hikes since 2017 and companies operating in this sector have seen an improved profitability.
China's manufacturers' profitability increased by 16.2 percent in the first eight months when compared with the same period a year earlier, among which the chemical engineering companies surged by 25 percent, according to data from the National Bureau of Statistics.
Analysts said the lower prices for raw materials had attributed to the growth.
Chemical engineering behemoth China Fangda Group Co., Ltd. realized a 188-percent surge year on year to 120 million yuan (17.23 million U.S. dollars) in net profits attributable to its shareholders while its counterpart Shanghai Huayi (Group) Company reported a 315.41-percent increase in its net profits to end at 1.597 billion yuan (229 million U.S. dollars).
Small and medium-sized companies like Shanxi Tond Chemical Co., Ltd. increased its net profits by 73.62 percent year on year to 72.6 million yuan (10.42 million U.S. dollars).
Qualified foreign institutional investors (QFII) have invested heavily in the chemical industry in China, with 10 out of the 44 most favorable shares lying in the chemical engineering sector.
Stimulated by the supply-side structural reform as well as the chemical products' price hikes, the chemical shares in China will maintain a strong momentum in the future, said Chinese analysts.
As part of the nation's efforts to cut excess capacity as well as protecting the environment, chemical engineering products have seen products price hikes since 2017 and companies operating in this sector have seen an improved profitability.
China's manufacturers' profitability increased by 16.2 percent in the first eight months when compared with the same period a year earlier, among which the chemical engineering companies surged by 25 percent, according to data from the National Bureau of Statistics.
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