Core Viewpoint - The article discusses the development plan for the petrochemical and new materials industry in Hainan Province, aiming for an output value exceeding 160 billion yuan by 2027, with a focus on upgrading and expanding the industry chain [2]. Group 1: Industry Development Plan - Hainan aims to enhance the petrochemical new materials industry by leveraging the benefits of the "fixed enterprise, fixed variety, fixed quantity" policy for crude oil imports, promoting a complete industry chain from oil to new materials [2]. - The plan includes expanding the olefin industry chain and developing high-end chemical new materials, while also stabilizing the aromatic hydrocarbon industry and extending downstream to specialty polyester and biodegradable materials [2]. Group 2: Current Industry Scale - Hainan has established a significant scale in the petrochemical and new materials industry, with a refining capacity of 10 million tons in Yangpu, supported by Hainan Refining and other enterprises [3]. - Hainan Refining's 800,000-ton refining project, operational since September 2006, serves as the foundation for the petrochemical industry in Yangpu [3]. - The aromatic hydrocarbon production capacity reached 2 million tons after the installation of two production units since 2013 [3]. Group 3: Key Enterprises and Projects - China Petroleum & Chemical Corporation (Sinopec) has invested significantly in Hainan, with Hainan Refining's first phase costing 11.6 billion yuan and achieving a crude oil processing capacity of 9.2 million tons per year [5]. - The high-performance resin industry is represented by Jinfa Technology, which produces high-value-added resin materials for automotive, electronics, and home appliances [5]. - Hainan Baling Petrochemical's 170,000-ton styrene thermoplastic elastomer project enhances the region's capabilities in specialty rubber [5]. Group 4: Recent Project Progress - Hainan Lixing's cobalt-manganese and polyester catalyst project is expected to begin trial production in September 2023, with an investment of 274 million yuan [9]. - Sinopec's 60,000-ton/year continuous production facility for biodegradable materials PBST has successfully produced qualified products, marking a significant milestone in Hainan's new materials sector [10].