The Chinese paper industry posted an increase of profits in 2020, according to a recent report, published by Chinese Ministry of Industry and Information Technology and reports of some local media.
According to data of the Ministry, profits of the domestic papermaking sector last year amounted to 82.67 billion yuan (about US$12.84 billion), which became by almost 21.2% higher than in 2019. At the same time revenue of the industry fell by 2.2% to 1.3 trillion yuan.
Despite the pandemic, paper and cardboard production in China demonstrated a significant growth in 2020, which, according to the majority of local analysts may continue this year.
It is planned, the growth of the industry will continue despite the plans of the Chinese government to significantly tighten ecology requirements for pulp and paper production in China this year.
By: Eugen Gerden