[CITIC Construction Investment: The current resonance conditions for domestic and foreign chemical production capacity cycles have been met] On November 7, CITIC Construction Investment Research reported that the profits of the chemical industry have risen from the bottom, but the valuation level is trapped by oil prices and is still at a low point. At present, the resonance conditions of domestic and foreign chemical production capacity cycles have been met. Once the inventory cycle starts, the supply of chemical products will be tight. The attributes of China's chemical industry as its core assets have been underestimated by the market. Asia, Africa and Latin America have entered a period of accelerated urbanization and industrialization, which is expected to drive the gap in industrial products and help re-price China's chemical industry's core assets.