From December 4 to 5, 2018, Mr. Zhang Wei, President of Sinochem Group and Chairman of Sinochem Energy, visited Sinochem Quanzhou Petrochemical for field investigation, and he was accompanied by Mr. Wang Hongjun, Deputy Director of Strategic Execution Department of Sinochem Group, Mr. Zhang Qiang, Vice President of Sinochem Energy, and Mr. Cheng Yongdeng, Deputy Director of Human Resources Department of Sinochem Group.

On December 4, Mr. Zhang Wei visited Sinochem Quanzhou Petrochemical, and investigated the construction site of the ethylene project, central control room of oil refining and other facilities; listened to the report of Sinochem Quanzhou Petrochemical on deepening reform, operation and implementation of the ethylene project and exclusive park strategy, and participated in group discussion to investigate the opinions and suggestions of grassroots employees on the work of Sinochem Group and Sinochem Energy in various aspects. He said that Sinochem Group has strong determination and full confidence in promoting the development of Sinochem Quanzhou Petrochemical, the ethylene project and exclusive park, and hoped that the leaders and employees of Sinochem Quanzhou Petrochemical could actively fulfill their mission, guarantee production and construction, and strive for the early implementation of the Phase III of Refining-chemical Integration Project, so as to turn Sinochem Quanzhou Petrochemical into a solid strategic fulcrum for the development of Sinochem Energy and even Sinochem Group.

At the meeting, Mr. Zhang Wei proposed that Sinochem Quanzhou Petrochemical should prevent the following three kinds of risks in production and operation at the end of the year: Firstly, to prevent market risks and price fluctuations, and never bet on the market; secondly, to prevent safety risks, follow the requirements raised in the group’s emergent video conference on safe production held on December 3, and be highly responsible for ensuring the safe production of oil refining and safe construction of the ethylene project. Thirdly, to prevent corruption risks, strengthen the construction of clean Party, fulfill the main responsibility of Party building, and fight against corruption resolutely.

On December 5, accompanied by the leaders of Quanzhou Municipal People’s Government, the delegation led by Mr. Zhang Wei investigated Jinjiang Baolilai Rubber & Plastic Industry and Trade Co., Ltd., 361 Degrees Group and Fujian Billion Group, which are three downstream enterprises that are related to the ethylene project of Sinochem Quanzhou Petrochemical; got a deep understanding of the development of related industries in the downstream sector, as well as the supply and demand of the ethylene products of Sinochem Quanzhou Petrochemical, and had in-depth discussion with the three enterprises on industrial advantages, development strategy and business cooperation.

When visiting Jinjiang Baolilai Rubber & Plastic Industry and Trade Co., Ltd. and 361 Degrees Group, Mr. Zhang Wei investigated the supply and demand of EVA products in the market of Fujian Province, the production and development of local footwear materials, and the trend of EVA and other raw materials demands. In Fujian Billion Group, the delegation visited the polyester fiber production workshop and got a better understanding of the company’s polyester production situation, development plan and construction progress of the new PTA project. Mr. Kang Tao, Secretary of Quanzhou Municipal Party committee, Mr. Liao Guowen, Secretary General of Quanzhou Municipal People’s Government and other local government representatives extend warm welcome to Mr. Zhang Wei, and kept him accompanied during the field investigation.

During the investigation, Mr. Zhang Wei emphasized that the downstream ethylene products have formed a certain scale in Fujian Province and have great development potential, but the competition pressure will gradually increase with the concentrated release of new production capacity in the next few years. He urged Sinochem Energy to make good preparations for the pre-sale of ethylene products, focus on the development of local markets in Fujian Province, reduce logistics costs, and improve the competitiveness of ethylene projects.