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In the first half of the year, the main economic indicators of China's petroleum and chemical industries far exceeded expectations at the beginning of the year, which gave us confidence and confidence in achieving the overall goal of making progress while maintaining stability throughout the year
In the second half of the year, we feel more clearly that insufficient domestic demand has become a major problem affecting the operation of the industry
Macro data also supports this situation
At the same time as domestic structural contradictions and cyclical problems are superimposed, developed countries such as the United States and Europe have suffered the most serious inflation in the past 40 years, the monetary policies of major economies have tended to tighten, and external uncertainties have increased significantly; the conflict between Russia and Ukraine has caused the global economy.
Due to China's high dependence on foreign countries such as oil and natural gas, the biggest feature of foreign trade in the petroleum and chemical industries is the large trade deficit
