ExxonMobil(US:XOM) Sou Hu Cai Jing·2025-07-15 10:48Core Viewpoint - The ExxonMobil Huizhou Ethylene Project has officially commenced operations, marking the first major petrochemical project wholly owned by a U.S. company in China, which signifies a new chapter for ExxonMobil's development in the Chinese market [2]. Group 1: Project Overview - The first phase of the ExxonMobil Huizhou Ethylene Project includes a flexible feed steam cracking unit with an annual capacity of 1.6 million tons of ethylene, two high-performance linear low-density polyethylene units with a combined annual capacity of 1.2 million tons, the world's largest single-unit low-density polyethylene unit with an annual capacity of 500,000 tons, and two differentiated high-performance polypropylene units with a combined annual capacity of 950,000 tons [2]. - Ethylene, known as the "mother of the petrochemical industry," is a crucial raw material in organic chemicals. The project will produce high-value-added basic chemical raw materials such as ethylene, polyethylene, and polypropylene, which are widely used in packaging, automotive, sanitary products, and personal care sectors [2]. Group 2: Environmental and Economic Impact - The project adopts an external pre-treatment mode for environmental protection and includes a comprehensive energy station that can utilize process tail gas for combustion, achieving clean energy recycling. Some products will use recyclable materials, supporting lower carbon emissions in product applications [3]. - The project is expected to enhance China's ethylene production capacity and industrial technology level, strengthening raw material supply for various industries, including electronic chemicals, fine chemicals, and biomedicine [2][3]. - The Huizhou Daya Bay Petrochemical Industrial Park, where the project is located, is home to other international petrochemical giants such as Shell, BASF, Clariant, and Mitsubishi Chemical, indicating a significant benefit to the industrial ecosystem in the Guangdong-Hong Kong-Macao Greater Bay Area [5]. Group 3: Government Support and Foreign Investment - The project received comprehensive and efficient support from the local government in areas such as customs coordination and construction permits, facilitating its successful construction and operation [5]. - China continues to signal its commitment to stabilizing foreign investment, with policies aimed at encouraging foreign enterprises to reinvest domestically. In the first five months of this year, China established 24,018 new foreign-invested enterprises, a year-on-year increase of 10.4% [5].