China To Announce Massive Stimulus Package for Petchem Industry

The Chinese government will soon announce a Rmb500-billion ($74 billion) financial stimulus package specifically to support the country’s petrochemical and refining industries, the official China Daily newspaper says. The package will include an investment of Rmb400 billion to establish 20 large-scale petchem plants. The announcement is expected to be made by the end of this month, and the package will be subject to approval by the State Council (Beijing). It is not known whether the 20 new petchem plants are projects that have already been announced...

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