China: Chemical fiber sector sees production expansion
( MENAFN )Official statistics revealed that China's chemical fiber sector saw a production augment but witnessed lower revenues and profits last year.
According to statistics from the Ministry of Industry and Information Technology (MIIT), the country's chemical fiber production hit 60.25 million tons, increased 3.4 percent year on year.
The mutual operating revenue of main chemical fiber firms fell by 10.4 percent year on year to 798.42 billion Yuan (about USD123.02 billion), while profits of these enterprises contracted by 15.1 percent to 26.35 billion Yuan from a year earlier, the MIIT statistics added.
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