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China plans to boost petrochemical demand

March 01/2011

(ICIS)--Chinas plan to build 36m units of government subsidised apartments over the next five years ensures strong demand for construction-related petrochemicals through 2015, analysts said on Tuesday.


The first 10m of the government-subsidised apartments would be built this year, Premier Wen Jiabao said on Sunday in an online chat session with users of Xinhua.net, a state-owned web-based news organisation.


Petrochemicals such as polyvinyl chloride (PVC), polyethylene (PE) and polypropylene (PP) were expected to benefit from the planned robust construction activities, analysts said.


China is a key market for petrochemicals in Asia, with the countrys domestic supply still lagging demand due to delays in start-up of a number of projects since 2008, analysts said.


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