China reported that its gross domestic growth (GDP) for the first three quarters of 2016 achieved RMB 52.9bn ($7.6bn), an increase of 6.7% over the same period in 2015 (increase in GDP for the first quarter and first half year are also 6.7%), and the increase of the secondary industry was 6.1%.
So, if the hypothesis that the industrial gas business will grow at 1.5 to 2 times of the GDP growth is anything to go by, the industrial gas business in China should be doing quite well. However, various industrial gas business owners have been complaining that their revenue has dropped by 30% or more, and many companies are still struggling for survival.
This situation was also reflected by Mr SUN Funan, Chief Engineer of Zhonghao Guangming Chemical Research and Design Institute Co. Ltd, Head of Ultra High Purity Research Centre, and Director of the editorial committee of the local publication Cryogenics and Specialty Gases when he shared his view of the industry in his presentation at the recent Annual General Meeting (AGM) of the China Specialty Gases Industry.
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