First time to exceed 400 billion! The scale and total profits of Ningbo’s petrochemical industry have both reached new highs!

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In 2021, Ningbo’s petrochemical industry overcame challenges such as the continuous and sharp rise in prices of commodities like crude oil, and made every effort to promote high-quality development of the sector. The scale of the city’s petrochemical industry exceeded 400 billion yuan for the first time, while total profits also reached a record high. It is understood that the more than 300 large-scale petroleum and chemical enterprises in Ningbo generated an industrial added value of 88.99 billion yuan, a total industrial output value of 414.59 billion yuan, a value from new products of 84.52 billion yuan, and export delivery values of 18.44 billion yuan. These enterprises achieved operating revenues of 419.83 billion yuan, with total profits and taxes amounting to 71.32 billion yuan. Of this, the total profit amounted to 41.96 billion yuan, with a production and sales rate of 98.29%. It is understood that in 2021, the development of Ningbo’s petrochemical industry featured the following highlights. First, the scale of the industry has increased significantly. In 2021, as the impact of the pandemic diminished and were driven by both domestic economic growth and the global economic recovery, the local market gradually recovered, with production showing continuous improvement. Second, exports have maintained strong growth. In 2021, Ningbo’s petrochemical industry achieved an export delivery value of 18.44 billion yuan. Exports of products such as polyvinyl chloride, synthetic resins, refined oils, and plasticizers have seen strong growth. Third, economic benefits have reached new heights. Leveraging the advantages of the Ningbo-Zhoushan Port logistics hub and further maximizing the synergistic effects of \"large-scale industries, large ports, extensive pipeline networks, and large markets,\" the petrochemical enterprises in Ningbo that meet certain size criteria achieved a total profit of 41.96 billion yuan, with total profits and taxes amounting to 71.32 billion yuan. Fourth, the output of key products has increased significantly. In 2021, driven by economic growth, the production volumes of products such as liquefied petroleum gas, phenol, propylene, acrylates, polyether polyols, and ethylene all increased significantly on a year-on-year basis. Fifth, major engineering projects have been successively completed and put into operation, becoming new drivers for industry growth. Sixth, significant progress has been made in green and low-carbon development. The Ningbo Petrochemical Zone and Daxie Development Zone have essentially established an integrated management system that features internal circulation within the parks and small-scale circulation within individual enterprises, as well as material transport via pipelines, centralized heating and gas supply, emissions at extremely low levels, and centralized treatment of wastewater. Petrochemical enterprises implement green and low-carbon development strategies, with the comprehensive energy consumption per unit of products in areas such as ethylene and oil refining being at the international leading level.