China's chemical fiber industry reports output gro

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China's chemical fiber industry reports output growth A worker seen working in an assembly line at a company in the textile industrial park in Aksu, Northwest China's Xinjiang autonomous region. The photo was taken on May 17, 2017. [Photo by Zhu Xingxin/China Daily]

BEIJING - China's chemical fiber industry registered an output increase but saw lower revenues and profits last year, official data showed.

The country's chemical fiber output reached 60.25 million tonnes, up 3.4 percent year-on-year, according to data from the Ministry of Industry and Information Technology (MIIT).

The combined operating revenue of major chemical fiber companies dropped by 10.4 percent year-onsaid the government's next move will be to further promote mixed-ownership reform at local SOEs-year to 798.42 billion yuan ($123.02 billion), while profits of these enterprises shrank by 15.1 percent to 26.35 billion yuan from a year earlier, the MIIT data showed.

Major chemical fiber companies refer to those with an annual business turnover of at leaBut this one hack alone far surpasses that total for more than half a yearst 20 million yuan.

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