Goldman Sachs Predicts Rebound in China Petrochemical Oil Demand

By EC Assets · Published 8 October 2026

Goldman Sachs projects a reversal in China's petrochemical oil demand decline. The investment bank anticipates a shift after a period of contraction. This outlook comes amidst various Goldman Sachs analyses regarding China's economic sectors and corporate activity. Goldman Sachs has revised its outlook for China's robotaxi market. The bank raised its forecast for the sector, indicating that it now believes commercialization is progressing faster than previously assumed. Goldman Sachs made this revision based on perceived acceleration in the market. JPMorgan Chase has recruited Zhang Yi from Goldman Sachs to co-head its China investment banking operations. Zhang will lead these operations alongside Michelle Wang. Bloomberg reported this hiring, internal company memo. Goldman Sachs analysts are also observing activity in China's biotech sector. Salveen Richter, Goldman Sachs lead U.S. biotech analyst, stated that large biopharma companies are actively seeking China assets. Richter also indicated that big pharma is shopping in China biotech as $440 billion in drugs lose patents. These companies are looking at biotech innovations within China. The firm has also adjusted its price target for Nike stock. This change follows Nike's disappointing performance. Nike reported weak guidance and a 26% slump in China. The iconic brand's turnaround plan is also clouded by struggles with its Jordan line. This article is intended for informational purposes only. It does not constitute investment advice.