Recently, the Development and Reform Commission of Guangdong Province issued the 2026 Key Construction Project Plan of Guangdong Province.
Strategic Layout and Overall Planning
Guangdong’s 2026 key construction projects total 1,850 with a combined gross investment of 8.6 trillion yuan and an annual planned investment of 1.05 trillion yuan.
As the core of the green petrochemical strategic pillar industrial cluster, the petrochemical and chemical industry centers on five integrated refining and chemical bases — Guangzhou, Huizhou Daya Bay, Zhanjiang Donghai Island, Maoming and Jieyang Dananhai. It has formed a distinctive industrial layout featuring "One Belt, Two Wings, Five Bases and Coordinated Development of Multiple Industrial Parks". Priority is given to extending three major industrial chains of ethylene, propylene and aromatics, as well as achieving breakthroughs in high-end new materials and fine chemicals.
Landmark Key Projects
1. BASF (Guangdong) Integrated Project
Positioning: The first wholly foreign-owned project in China’s heavy chemical industry and BASF Group’s largest overseas investment, with an investment of approximately 8.7 billion euros.
Progress: The Zhanjiang Donghai Island base has been fully put into operation, running 18 production units and 32 production lines. It is supported by a 1 million tons/year ethylene complex and thermoplastic polyurethane units, forming a full industrial chain from crude oil extraction to fine chemicals.
Features: The world’s third-largest integrated production base with deep integration of digitalization and sustainability. It holds 69 patents and jointly builds R&D centers with South China University of Technology and The Hong Kong University of Science and Technology.
2. CNOOC Shell Huizhou Phase III Ethylene Project
Scale: With a total investment of 48 billion yuan, it involves the construction of a 1.6 million tons/year ethylene cracking unit and 16 downstream supporting units.
Progress: Officially launched in January 2025, the overall project progress reached 42.49% as of January 2026. The planned investment for 2026 is 12.43 billion yuan. Civil foundation construction and heavy component hoisting will be completed by the end of 2026, with mechanical completion scheduled for the second quarter of 2027.
3. Maoming Petrochemical Refining Upgrading & Ethylene Quality Renovation Project
Core Layout: Maintains an annual crude oil processing capacity of 18 million tons, cuts refined oil output by 1.85 million tons per year, and increases ethylene raw material output by 1.67 million tons per year. The ethylene production capacity will expand from 1 million tons/year to 1.64 million tons/year.
Downstream Supporting Projects: Newly built facilities include a 300,000 tons/year propylene oxide unit, a 240,000 tons/year hydrogen peroxide unit and a 100,000 tons/year POE unit, filling the domestic gap in high-end polyolefins. Full project handover is expected by the end of 2026.
Regional Characteristics & Industrial Clusters
• Zhanjiang Donghai Island: BASF and China National Petrochemical & Chemical Corporation (15 million tons/year refining, 800,000 tons/year ethylene) form a dual leading enterprise pattern. The green petrochemical industrial cluster achieved operating revenue exceeding 130 billion yuan in 2025, driving 51 industrial enterprises above designated size and building a complete industrial chain of crude oil – oil refining – basic chemicals – fine chemicals.
• Huizhou Daya Bay: The CNOOC Shell polycarbonate project will achieve mechanical completion in 2026. ExxonMobil’s Huizhou Ethylene Phase II is under planning. Supporting projects such as East Guangdong LNG cold energy air separation and tail gas comprehensive utilization are advanced to build a pilot platform for green chemical industry.
• Jieyang Dananhai: The Juzhenyuan New Materials Base and the first phase of the Acrylic Industrial Park are under accelerated construction. Supporting projects including East Guangdong LNG cold energy air separation and C4/C5 high-end new material production are advanced to form a refined chemical cluster.
Technological Innovation & Green Transition
• Reducing Refined Oil, Expanding Chemical Production: Projects including Maoming Petrochemical and Jiujiang Petrochemical adopt Deep Catalytic Cracking (DCC) technology to raise ethylene yield, lower the proportion of refined oil output, and shift toward chemical material-oriented production.
• Circular Economy: Major projects such as Guangdong Dongyue Chemical’s 2×600,000 tons/year mixed waste plastic resource utilization project and Yueneng Environmental’s 100,000 tons/year high-value waste plastic recycling project are being promoted, creating a closed-loop system of waste plastics – chemical raw materials – new materials.
• Low-Carbon Technologies: BASF Zhanjiang applies technology to convert CO₂ waste gas into food-grade carbon dioxide and dry ice. China National Petrochemical & C
Major Petrochemical & New Materials Projects in Zhejiang Province 2026
Zhejiang Provincial Development and Reform Commission has officially released the 2026 First Batch Major Construction Project Implementation Plan under the "Thousand Projects & Trillion Yuan" Initiative for Expanding Effective Investment.
Verified against filing records and EIA approvals from prefectural and municipal development and reform authorities across the province (as of April 15, 2026), after excluding conceptual planning projects, a total of 101 tangible implementation projects have been confirmed in the green petrochemical and new materials sector, with an aggregate investment of 368.2 billion yuan.
Zhejiang has formed an industrial pattern of dual-core leadership by Ningbo-Zhoushan and multi-pillar support from Jiaxing-Shaoxing-Hangzhou. Centering on the core strategy of reducing refined oil output and expanding chemical production with high-end industrial extension, the province focuses on key bottleneck materials including adiponitrile, POE, COP and electronic specialty gases, striving to build a world-class green petrochemical and new materials industrial cluster. Details are as follows:
I. Refining & Chemical Upgrading (3 Projects, Total Investment: 42.5 Billion Yuan, No New Refining Capacity Added)
1. Rongsheng Petrochemical High-end New Materials Project
Investor: Rongsheng Petrochemical (002493)
Location: Yushan Island, Daishan County, Zhoushan
Total Investment: 28.6 billion yuan
Core Content: Construction of production units including 250,000 t/a adiponitrile, 280,000 t/a hexamethylenediamine, 500,000 t/a nylon 66, 4×100,000 t/a POE (polyolefin elastomer), and 350,000 t/a α-olefin. Adopting independently developed proprietary technologies, the project fills key technical gaps in domestic high-end polyolefin and industrial nylon chains, providing core raw material support for photovoltaic, automotive, electronics and other industries.
2. Zhejiang Petrochemical Refining-Chemical Integration Renovation & Upgrading Project
Investor: Rongsheng Petrochemical (002493)
Location: Yushan Island, Daishan County, Zhoushan
Total Investment: 9.2 billion yuan
Core Content: No additional crude oil processing capacity. Through technological upgrading, the proportion of refined oil output will be cut by 12%, while the yield of chemical light oil will be substantially increased. It supports raw material supply for downstream high-end new materials projects and drives the transformation from traditional refining to chemical new materials.
3. Sinopec Zhenhai Refining & Chemical 1 Million t/a Toluene Selective Disproportionation Project
Investor: Sinopec (600028)
Location: Zhenhai District, Ningbo
Total Investment: 4.7 billion yuan
Core Content: Newly build a 1 million t/a P-xylene (PX) unit to optimize the aromatic product structure, ensuring stable and high-quality raw material supply for downstream polyester, high-end film, special fiber and other new materials industries.
II. High-end New Materials Core Tracks (81 Projects, Total Investment: 294.7 Billion Yuan)
(1) Zhoushan (12 Projects, Total Investment: 117.8 Billion Yuan)
1. Rongsheng New Materials (Zhoushan) Jintang New Materials Project
Investor: Rongsheng Petrochemical
Location: Jintang Island, Dinghai District, Zhoushan
Total Investment: 76 billion yuan
Core Content: Build 27 main production units including 1.2 million t/a ethylene, 800,000 t/a propylene, 600,000 t/a styrene, 400,000 t/a ABS and 300,000 t/a polycarbonate (PC), creating the world’s largest single-site chemical new materials base and fully extending the downstream industrial chain of refining and chemical production.
2. Zhejiang Saibaolong 200,000 t/a MS Polymer New Materials Project
Investor: Zhejiang Saibaolong New Materials
Location: Liuheng Island, Zhoushan
Total Investment: 1.8 billion yuan
Core Content: Construct a 200,000 t/a methyl methacrylate-styrene copolymer (MS) production line; the first phase of 100,000 t/a is scheduled for commissioning in 2027. Featuring high transparency and high impact resistance, the products are widely used in optical panels, home appliance shells, automotive interiors and other high-end fields.
3. Zhonghong New Materials 2.5 Million t/a Differentiated Polyester Fiber & 100,000 t/a Polyester Film Project
Investor: Zhonghong New Materials
Location: Putuo District, Zhoushan
Total Investment: 12.6 billion yuan
Core Content: Build the world’s largest production base for differentiated polyester fibers, supporting simultaneous construction of high-end optical polyester film units. Products cover high-end textiles, industrial yarns, optical films, electronic-grade films and more, boosting industrial chain added value.
4. Zhejiang Huanyang Xinghua C3 Industrial Chain Circular Economy Industrial Park Project
Investor: Zhejiang Huanyang Xinghua
Location: Daishan County, Zhoushan
Total Investment: 8.9 billion yuan
Core Content: Establish a complete industrial chain of propane dehydrogenation to propylene and downstream high-end polyolefins. Adopting circular economy processes to achieve efficient raw material utilization and by-product resource recovery, reducing energy consumption and carbon emissions.
(2) Ningbo (27 Projects, Total Investment: 89.2 Billion Yuan)
1. CNOOC Ningbo Daxie Petrochemical Distillate Oil Phase VI Project
Investor: CNOOC
Location: Daxie Development Zone, Ningbo
Total Investment: 7.8 billion yuan
Core Content: Build 40,000 t/a ultra-high molecular weight polyethylene (UHMWPE) and 200,000 t/a high-density polyethylene units. UHMWPE features excellent wear resistance, corrosion resistance and impact resistance, widely applied in mining, metallurgy, medical treatment, military and other high-end sectors.
2. COP Special New Materials Project
Investor: State-owned Assets of Ningbo Petrochemical Economic Development Zone + Local Enterprises
Location: Zhenhai District, Ningbo
Total Investment: 1.536 billion yuan
Core Content: Construct China’s first ten-thousand-ton-level COP mass production line (Phase I: 5,000 t/a), filling the domestic gap in optical-grade and semiconductor-grade COP materials. Known as "optical gold", COP is used in optical lenses, AR/VR devices, medical consumables and semiconductor packaging.
3. North Special Gas (Zhejiang) Silicon-based New Materials & Third-generation Semiconductor Materials Integration Project (Phase I)
Investor: North Special Gas
Location: Beilun District, Ningbo
Total Investment: 4.2 billion yuan
Core Content: Annual output of 61,000 tons of electronic special gases and silicon-based epitaxial materials, covering high-purity special gases and electronic-grade silicon materials. Fully supporting the third-generation semiconductor industry (silicon carbide, gallium nitride) and safeguarding the security of the semiconductor industrial and supply chain.
(3) Shaoxing (16 Projects, Total Investment: 47.1 Billion Yuan)
1. Zhejiang Ruixiang Electronic Materials 600,000 t/a Alkane Resource Comprehensive Utilization Integration Project (Phase I)
Investor: Zhejiang Yuanjin New Materials
Location: Shangyu District, Shaoxing
Total Investment: 11 billion yuan
Core Content: Build 2×750,000 t/a propane dehydrogenation and 2×300,000 t/a polypropylene units. Leveraging high-quality alkane resources to produce high-end polypropylene and downstream modified materials for automotive, home appliance and medical packaging industries.
2. Zhejiang Sanmei Chemical 90,000 t/a Epichlorohydrin, 20,000 t/a HFO-1234yf & 20,000 t/a PVDF Project
Investor: Sanmei Co., Ltd. (603379)
Location: Wuyi County, Shaoxing
Total Investment: 1.57 billion yuan
Core Content: Produce third-generation environmentally friendly refrigerants (HFO-1234yf), PVDF binders for lithium batteries, and epichlorohydrin, entering high-growth tracks including new energy vehicles, energy storage and refrigeration.
3. Zhejiang Jianglan Bio 300,000 t/a Sustainable Aviation Fuel (SAF) Project
Investor: Zhejiang Jianglan Bio
Location: Keqiao District, Shaoxing
Total Investment: 4.2 billion yuan
Core Content: Adopt bio-based raw materials to produce sustainable aviation fuel, building China’s largest SAF production base to support carbon neutrality in the aviation industry, with products complying with international SAF standards.
(4) Hangzhou (8 Projects, Total Investment: 18.7 Billion Yuan)
1. Zhejiang Heyuan Precious Metals Project
Investor: Zhejiang Heyuan
Location: Fuyang District, Hangzhou
Total Investment: 2.8 billion yuan
Core Content: Refining of platinum, palladium, rhodium and other precious metals, and production of high-end catalyst materials. Serving automobile exhaust purification, petrochemicals, fine chemicals and new energy industries to realize efficient recycling of precious metal resources.
2. Guoke Tanmei New Materials 2,000 t/a High-performance Porous Carbon & 200MWh Supercapacitor Project
Investor: Guoke Tanmei New Materials
Location: Huzhou (under Hangzhou layout)
Total Investment: 1.6 billion yuan
Core Content: R&D and production of high-performance porous carbon materials and energy storage systems for supercapacitors, featuring high power density, long service life and wide temperature adaptability. Applied in new energy vehicles, rail transit and power grid frequency regulation.
3. Purolite 32,000 t/a Functional New Materials Project
Investor: Purolite (China)
Location: Linping District, Hangzhou
Total Investment: 1.2 billion yuan
Core Content: Produce high-end ion exchange resins and water treatment functional materials for industrial water treatment, food processing, biomedicine and electronic-grade ultrapure water preparation, improving the efficiency of water resource recycling.
(5) Core Projects in Other Cities (8 Projects, Total Investment: 11.9 Billion Yuan)
1. Zhejiang Yaoruixing New Materials Green Intelligent Manufacturing Demonstration Industrial Park Project
Investor: Zhejiang Yaoruixing
Location: Quzhou
Total Investment: 3.5 billion yuan
Core Content: Focus on R&D and manufacturing of green high-end chemical new materials, build a circular economy industrial chain with smart factory and green manufacturing technologies, setting a benchmark for the new materials industry in western Zhejiang.
2. Zhejiang Zhongke Magnet 20,000 t/a Energy-saving Motor Magnetic Tile & 6,000 t/a High-performance NdFeB Magnetic Steel Project
Investor: Zhongke Magnet (301141)
Location: Dongyang City, Jinhua
Total Investment: 1.8 billion yuan
Core Content: Produce high-performance permanent magnet materials for new energy vehicles, wind power generation and energy-saving home appliances, improving magnetic energy product and temperature stability to support the development of high-efficiency energy-saving motor industry.
3. Weibojie Caprolactone & Polycaprolactone (PCL) Production Base Project
Investor: Weibojie New Materials
Location: Taizhou
Total Investment: 2.2 billion yuan
Core Content: Build a complete industrial chain of biodegradable plastic polycaprolactone (PCL). Products are used in biomedical materials, 3D printing, eco-friendly packaging and agricultural mulch films, promoting domestic substitution of biodegradable materials.
III. Fine Chemicals Specialized Sector (17 Projects, Total Investment: 31 Billion Yuan)
1. 1.5 Million t/a New Green Building Material Admixture & Self-owned Terminal Project
Investor: Zhejiang Building Material Admixture
Location: Jiaxing Port Area
Total Investment: 4.5 billion yuan
Core Content: Produce high-efficiency water reducers, retarders, air-entraining agents and other new green building admixtures, with a dedicated supporting terminal to serve infrastructure construction and green building industry in the Yangtze River Delta.
2. Zhejiang Saibenda New Materials 150,000 t/a Surfactant & 100,000 t/a Textile Auxiliaries Project
Investor: Zhejiang Saibenda New Materials
Location: Shangyu District, Shaoxing
Total Investment: 2.8 billion yuan
Core Content: Manufacture high-end eco-friendly surfactants and textile printing & dyeing auxiliaries with low foam, easy biodegradation and cost advantages, facilitating the green and low-carbon transformation of the textile industry.
3. Shaoxing Yingde Gas High-purity Electronic Specialty Gas Project
Investor: Yingde Gas
Location: Shangyu District, Shaoxing
Total Investment: 1.9 billion yuan
Core Content: Produce high-purity ammonia, high-purity hydrogen chloride, electronic-grade nitrous oxide and other special gases with purity up to 6N–7N grade, meeting demand from semiconductors, display panels, photovoltaics and other electronic manufacturing industries.
4. Shaoxing Shangyu Donghu Chemical 30,000 t/a Biosynthesis Project via Microchannel & Enzymatic Green Manufacturing
Investor: Donghu Chemical
Location: Shangyu District, Shaoxing
Total Investment: 1.6 billion yuan
Core Content: Adopt microchannel reaction and bio-enzymatic catalysis technologies to produce pharmaceutical intermediates, food additives and feed additives, featuring green and efficient processes, high atom economy and low waste emissions.
5. Sika (Zhejiang) 141,300 t/a High-performance Eco-friendly Adhesives & Coatings Project
Investor: Sika China
Location: Huzhou
Total Investment: 2.3 billion yuan
Core Content: Produce solvent-free, water-based and high-solid eco-friendly adhesives and industrial coatings for automotive, rail transit, architectural decoration and new energy sectors, complying with EU environmental standards.
6. 100,000 t/a Waste Catalyst Recycling & 60,000 t/a Hazardous Waste Disposal Project
Investor: Zhejiang Hazardous Waste Treatment
Location: Quzhou
Total Investment: 3.2 billion yuan
Core Content: Specialized in recycling and disposal of waste catalysts and hazardous waste from petrochemical, chemical and new energy industries, extracting valuable metals such as platinum, palladium, nickel and cobalt to realize resource recycling and harmless disposal of hazardous waste.
Industrial Highlights
• Private Refining Leading High-end Transformation: Leading local enterprises including Rongsheng and Hengyi account for over 70% of total investment. Leveraging ten-million-ton-level refining bases, they extend the full chain of crude oil – basic chemicals – high-end new materials, breaking away from the low-value-added model of traditional refining.
• Breakthroughs in Core Bottleneck Materials: Zhejiang has arranged 12 major projects targeting long-term import-dependent key materials such as adiponitrile, POE, COP and electronic specialty gases. Upon full commissioning in 2028, the self-sufficiency rate of domestic high-end chemical new materials will exceed 65%.
• Green & Low-carbon Development Throughout the Industrial Chain: All projects adopt the most advanced domestic environmental protection technologies, with energy consumption per unit output over 20% lower than the industry average. Concurrent layout of bio-based materials, waste catalyst recycling and other circular economy projects builds a benchmark for the green petrochemical industry.
Additional projects are distributed in Quzhou, Jinhua, Taizhou, Jiaxing and other regions. The full implementation of the 101 major projects marks a new stage of high-quality development for Zhejiang’s green petrochemical and new materials industry. It will strongly underpin national industrial and supply chain security and accelerate the rise of the high-end new materials industrial cluster in the Yangtze River Delta.
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