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1. Refining and chemical integration as well as raw material optimization projects: Dongming Petrochemical’s 15 million-ton refining and chemical integration project (with an investment of 73.8 billion yuan) aims to increase the production of key raw materials such as olefins and aromatics, thereby supporting the development of high-end new materials in downstream industries. The Fuhai (Dongying) Aromatic Raw Materials Low-Carbon Transformation Project (with an investment of 31.8 billion yuan) will see the construction of multiple new facilities, whose main output will be aromatic raw materials; construction is expected to begin by the end of 2026. Shandong Hongfeng Chemical’s integrated project for succinic anhydride and biodegradable new materials (with an investment of 27.327 billion yuan) focuses on the construction of hydrogenation and biodegradable material production facilities, along with a carbon capture system; operation is expected to begin in 2027. The Dongming Shenghai 300,000 tons/year UPC technology demonstration project (with an investment of 11.07 billion yuan) is the world’s first industrial-scale demonstration of direct conversion of crude oil into olefins. By utilizing advanced UPC technology, it enables a significant reduction in raw material consumption and carbon emissions. 2. High-end polyolefins and elastomers project: Wanhua Chemical’s second ethylene production facility (with an investment of 17.6 billion yuan) is focused on producing POE elastomers, which are in high demand in China, thereby reducing reliance on imported high-end polyolefins. The Dongming Sinopec Fuel Olefins New Materials Technology Demonstration Project (with an investment of 11.6 billion yuan) will build facilities for HDPE, PP, EVA, etc., to expand the portfolio of downstream olefin products. The Zibo Xintai Petrochemical Alkanes Comprehensive Utilization Project (with an investment of 10.436 billion yuan) aims to become the largest carbon triplets production and deep processing base in the province; its propylene oxide plant is expected to begin trial production by the end of 2025. 3. New energy and high-end new materials projects: The downstream industrial chain expansion project of Shandong Yulong Petrochemical (with an investment of 117.857 billion yuan) will build on the first phase of the Yulong Island project to produce dozens of high-end new materials such as POE, nylon 66, and carbon fiber precursor fibers. The Yankuang Lunan Chemical New Energy Materials Integration Project (with an investment of 10.3 billion yuan) is aimed at providing key raw materials for photovoltaic-grade EVA film, and its operation is expected to begin in 2027–2028. Shandong Hongda Chemical’s high-end polyamide (nylon 66) integrated production project (with an investment of 10.256 billion yuan) will fill the gap in capacity for high-end nylon materials in Shandong and serve industries such as high-end manufacturing. 4. Fine chemicals and specialty materials projects: Shandong Huifeng Petrochemical’s 200,000-ton/year polystyrene project (with an investment of 10.929 billion yuan) is focused on producing high-end grades of polystyrene such as those with high impact resistance and transparency, in an effort to break the monopoly held by foreign products. In addition, two more fine chemical projects worth tens of billions of yuan (involving high-end optical materials and electronic chemicals) are under approval, which will further strengthen Shandong’s presence in emerging fields.