The rate cuts would save the company 20 million yuan a year in interest payments, plus its debt-equity ratio was 37 percent, very low for a large state Chinese company, he said. Seventy percent of the firm's crude oil came from the Daqing field in China's northeast and 30 percent from the Shengli field in Shandong province, he said. The price for crude oil in China would not rise the rest of 1996 and was not influenced by the Iraq-U.S. conflict, he said. Shanghai Petrochemical is one of China's biggest petrochemical conglomerates. This page only represents the views of the author and should in no way be taken as professional investment advice.
Stocks can go down as well as up.
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