Jing Ji Ri Bao·2025-10-31 21:07Core Insights - The completion and commissioning of the ethylene project by China National Petroleum Corporation (CNPC) in Guangxi marks a significant transition from refining to integrated refining and chemical operations [1] - The project represents a total investment exceeding 30 billion yuan, making it the largest million-ton ethylene project in Southwest China [1] - The project is expected to reduce oil products by 3.49 million tons annually and increase chemical production [1] Investment and Economic Impact - The ethylene project is a key component of China's petrochemical industry planning and layout [1] - It includes a core ethylene unit with a capacity of 1.2 million tons per year, along with 14 chemical units and 2 refining units [1] - The project aims to transform Guangxi's chemical industry from basic chemicals to high-end chemical new materials [1] Market Reach and Strategic Importance - The project leverages the Western Land-Sea New Corridor, allowing products to reach markets in Southwest China, South China, and ASEAN [1] - It is positioned to help create a trillion-yuan green chemical new materials industry cluster aimed at the ASEAN market [1]