Beijing, Nov. 3 -- China's rapid expansion of its chemical manufacturing industry is putting increasing pressure on foreign producers, squeezing them out of the domestic Chinese market while intensifying competition in international markets, according to a report by the Rhodium Group cited by The Epoch Times (TET).

In a report released on November 2, the Rhodium Group stated that China accounts for more than 45 per cent of global production capacity for basic chemicals and plastic resins, with its chemical output expanding 18-fold over the past 25 years. The report noted that the massive expansion has created production capacity exceeding domestic demand, leading to falling prices, accumulating inventories and shrinking profit margins am...