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Recently, it was learned from the Provincial Department of Industry and Information Technology that in the first half of this year, the industrial output value of the petrochemical and new materials sector in Hainan Province increased by 30.6% on a year-on-year basis. Among this, the added value of the petroleum processing industry rose by 47.6%, while the added value of the chemical industry increased by 28.4%. The petrochemical sector contributed 10.6 percentage points to the growth of industrial output in Hainan Province among enterprises above a certain scale. In the first half of this year, a number of petrochemical projects, including those producing millions of tons of ethylene, were put into operation on a large scale, making a significant contribution to the industrial growth of the province. In February this year, the acrylonitrile production units of the second phase of Hainan’s fine chemical manufacturing project at CNOOC Fudao (Hainan) Chemical Co., Ltd. began operations, generating output worth 470 million yuan in the first half of the year ； This project uses the propylene produced by Dongfang Petrochemical to manufacture acrylonitrile with high added value, thereby extending the industrial chain for petrochemical new materials and providing key raw materials for the development of high-end new material projects such as carbon fiber and ABS resin. In February, the 1 million tons per year ethylene and refining expansion project of Sinopec Hainan Refining & Chemical Co., Ltd. completed the entire production process, with a successful trial run upon the first feed, marking a breakthrough of \"zero\" for Hainan’s ethylene industry. Subsequently, several projects in the downstream ethylene industry chain were put into operation one after another. In the first half of the year, 280,000 tons of ethylene were produced, helping Hainan Refining & Chemical to achieve an output value of 31.74 billion yuan, a year-on-year increase of 73.7%. In April, Hainan Baling Chemical New Materials Co., Ltd. successfully completed the process flow for its 170,000 tons per year styrene-based thermoplastic elastomer production facility, producing qualified products; the company achieved output value of 100 million yuan in the first half of the year. This project makes use of the styrene, butadiene and other resources available at Hainan Refining & Chemical to reduce raw material costs and logistics expenses, thereby extending the industrial chain of Hainan Refining & Chemical’s ethylene production project. In June, Hainan Xinaoke Chemical Co., Ltd. began pilot production of its 5,000 tons per year MMT production facility; this facility uses carbon-9 raw materials produced by million-ton ethylene plants to manufacture MMT. In addition, Hainan Oak Chemical Co., Ltd.’s 200,000 tons per year project for downstream derivatives of ethylene oxide is also in the final stages ； The 2.5 million tons per year purified terephthalic acid (PTA) project and the 1.8 million tons per year functional materials (PET) project at Hainan Yisheng Petrochemical Co., Ltd. are under accelerated construction, with plans to begin operations in the second half of this year. A relevant official from the Provincial Department of Industry and Information Technology said that in order to encourage petrochemical enterprises to expand their production scales and increase investment, Hainan Province is accelerating the disbursement of a series of financial incentives under the “8+2” program for the industry and information technology sector, ensuring that all eligible enterprises receive the rewards due to them. In the first half of this year, 510 million yuan was allocated as incentives for output value and investment. At the same time, the Provincial Department of Industry and Information Technology has come up with new approaches to address the financial difficulties faced by enterprises. For those temporarily struggling with funding issues, the department actively helps them apply for equity investments from the free trade port fund to alleviate their difficulties. In the first half of this year, two petrochemical companies received 70 million yuan in equity investments as part of this support program. The Provincial Department of Industry and Information Technology is also actively implementing a system of dedicated service officers for enterprises, carrying out weekly reviews and daily monitoring of key petrochemical enterprises and projects to address any obstacles or issues that arise in production and construction ； The industrial and information technology systems across the province “focus on quarterly goals and monitor monthly progress”; through multiple measures, they ensure the stable production of key enterprises and facilitate the completion and commissioning of major projects.