1 Apr 2019
Guangzhou, China – China’s sizable rubber sector companies, including tire makers, reduced by 79 in count to 3,565 in 2018, following a drop of 324 companies in 2017.
The sector’s main business revenue remained flat in 2018 at €92 billion (698 billion yuan). Export delivery value rose by 4.4% from 2017 to €20 billion; total profit increased by 2.1% to €4 billion, according to China’s National Bureau of Statistics.
“It seems that some companies’ performance is picking up but it’s only because there are market space to fill upon the shutdowns,” said China Rubber Industry Association’s secretary general Xu Wenying at the China Rubber Conference held in Guangzhou in March.
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