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On November 12, a negotiation meeting for the Zhongsha Gulei Ethylene Project was held in the Gulei Development Zone, where the parties involved in the project had face-to-face discussions on the progress made so far and conducted substantive talks on advancing the project in the next phase. Zhang Guowang, Secretary of the Municipal Party Committee; Li Lei, Vice President of Saudi Basic Industries Corporation and President of its North Asia region as well as Chairman of China Investment Corporation; and Xu Jianping, Deputy Secretary of the Party Committee and General Manager of Fujian Energy and Chemical Group, attended the discussions. As a key project for capacity and investment cooperation between China and Saudi Arabia, the Zhongsha Gulei ethylene project saw the signing of its joint venture contract on August 18; at present, the preliminary work for this project is progressing in an orderly manner. Zhang Guowang welcomed the arrival of Li Lei and his team, and highly praised the achievements made in the preliminary work for the project. From the afternoon of November 12th to November 13th, the project team held a meeting to advance the project, during which discussions were held on aspects such as project approval, engineering, technology, and progress, and arrangements were made for the next phase of work. Both sides stated that it is necessary to maintain continuous coordination and advance work in parallel. The provincial Party committee and government, as well as the Zhangzhou municipal Party committee and government, attach great importance to the construction of the Zhongsha Gulei ethylene project. Both sides must overcome difficulties, focus on key milestones, strengthen coordination within and outside the project, and make continuous progress toward the established goals. Second, it is necessary to strengthen communication and implement responsibilities. Work related to project approval, technical aspects, and resource provision is being carried out in parallel and in a coordinated manner. Both parties need to clarify their goals further, pursue them with determination, and ensure seamless coordination in order to make the work more thorough and organized. Third, overcome the pandemic and accelerate the early stages. At present, some of SABIC’s teams are still unable to travel to China for face-to-face discussions. The relevant teams need to work hard to overcome the impact of the pandemic and continue to use methods such as video and telephone conferences to carry out negotiations, in order to complete all the necessary preparations before the project starts as soon as possible. On August 18, 2021, the joint venture contract for the Zhongsha Gulei ethylene project was officially signed. Both sides stated that it is necessary to maintain continuous coordination and advance work in parallel. The provincial Party committee and government, as well as the Zhangzhou municipal Party committee and government, attach great importance to the construction of the Zhongsha Gulei ethylene project. Both sides must overcome difficulties, focus on key milestones, strengthen coordination within and outside the project, and make continuous progress toward the established goals. Second, it is necessary to strengthen communication and implement responsibilities. Work related to project approval, technical aspects, and resource provision is being carried out in parallel and in a coordinated manner. Both parties need to clarify their goals further, pursue them with determination, and ensure seamless coordination in order to make the work more thorough and organized. Third, overcome the pandemic and accelerate the early stages. At present, some of SABIC’s teams are still unable to travel to China for face-to-face discussions. The relevant teams need to work hard to overcome the impact of the pandemic and continue to use methods such as video and telephone conferences to carry out negotiations, in order to complete all the necessary preparations before the project starts as soon as possible. On August 18, 2021, the joint venture contract for the Zhongsha Gulei ethylene project was officially signed. Under the contract, SABIC and Fujian Petrochemical Group will establish a joint venture that plans to invest around 40 billion yuan to build and operate a world-class large-scale petrochemical complex at the Gulei Petrochemical Complex in Fujian Province – the SABIC-Fujian Gulei Ethylene Project. The project will construct an ethylene plant with an annual production capacity of 1.5 million tons, along with a range of downstream processing units. It utilizes various advanced technologies from around the world, and features large-scale operations, good economic efficiency, a high proportion of high-end products, low energy consumption and emissions, as well as strong driving effects on related industries.