Conference to discuss trends in petrochemical industry

The 2014 China Petroleum and Chemical International Conference and Industry Fair will be held in Tianjin on Sept 11.

The event, regarded as one of the top five industrial fairs in the world, is being held for the 13th year and is sponsored by the China Petroleum and Chemical Industry Federation.

Zhao Jungui, deputy chief of the federation, said the global petrochemical industry is experiencing a series of changes, while China's petrochemical industry is undergoing structural adjustment and upgrading. The status of both industries will provide plenty of topics for discussion.

The theme of this year's conference is the outlook for the global petroleum and chemical industry in the next ten years and China's innovation and opportunities.

The federation predicts rapid growth in the global petrochemical industry in long run in both developed countries and developing countries.

China's major companies in the petroleum and chemical industry had total revenue of 6.79 trillion yuan ($1.1 trillion) in the first half of 2014, with a growth of 8 percent year-on-year. Profits grew by 6.4 percent to 419 billion yuan.