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 DEVELOPMENT OF CHINA'S INDUSTRY |
| Since China is in the phase of heavy chemical industry and undergoing urbanization, all sectors of the national economy, especially such industries as infrastructure, energy and transportation, construction, electronics and automobile keep a robust demand for energy and chemical raw materials, which boost a stably rapid development of the petrochemical industry. |
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| STATUS OF FOREIGN INVESTMENT |
| According to the statistics of MOFCOM, 862 foreign investment projects in Chemicals industry(Chemicals Industry (Code C26) hereinafter is in accordance with the National Economic Industrial Classification (GB/T4754-2202).) were newly set up in 2007, 340 less than that of the same period in the last year, and the amount of the actual utilized foreign capital reached USD 2886420,000, up by 9.25ге year-on-year. |
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| COMMITMENTS TO THE WTO AND INTERNATIONAL PRACTICES |
| Along with china's accession to the WTO, the tariffs on imported chemical products will decline prominently. |
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| DEVELOPMENT OF GLOBAL INDUSTRIES |
| In 2006, global chemical industry acquisition kept advancing triumphantly. As shown in latest report from investment bank Young & Partners in New York, the first three quarters of 2006, global chemical industry acquisition valued more than .32 billion US dollars , the total value of 2005. We can see 2006 acquisition showed following prominent features. |
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