Caixin Global – Latest China News & Headlines

Home >


CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

U.S. Transport Agency Bans Employees From Using TikTok For Work
Huawei Launches New Foldable Smartphone, Targets Android Market with HMS
Industries Switch Up Production Processes to Use Byproducts to Produce Medical Supplies
China Plans to Mass Produce Driverless Cars by 2025 Later Than Previous Forecast
U.S. Companies Fluctuate on Wall Street as Covid-19 Hits Their 2020 Forecasts
Snack Shop Serves Up First IPO from Wuhan Since Covid-19 Outbreak Took Hold
Chinese AI Firm Laiye Secures $42 Million in Series C Funding Round
Japan’s Finance Minister Expresses Concerns Over China’s Digital Yuan
U.S. Allows China’s iFlyTek to Resume Purchases of American-Made Medical Products During Outbreak
China Accounts For Nearly Half of All Global 5G Smartphone Shipments in 2019: Research
Xiaomi-Backed Smart Home Cleaner Maker Raises $641 Million in Shanghai IPO
Foxconn Allows Henan Workers to Return to Its Zhengzhou Complex
Alibaba-Owned Livestreaming Platform Taobao Live Sees Rapid Growth Amid Outbreak
Lenovo Charges Up Investors by Playing Down Virus Impact
Huawei ‘Disappointed’ After U.S. Court Rejects Its Federal Ban Challenge
Didi Installs In-Car Protective Sheets Between Drivers and Passengers to Control Coronavirus
Puma and Adidas Face Massive Sales Drop Due to Coronavirus
China Raises First-Batch Rare-Earth Mining Quota by 10% for 2020
Tesla and CATL Enter Advanced Stages of Talks Over Cobalt-Free Battery Supply
Hong Kong Unemployment Surges to Record High in Wake of Coronavirus Outbreak
China Tells Exxon Boss: Bring on the 'Wholly Foreign-Owned Petrochemical Projects'

By Zhao Runhua / Apr 04, 2019 05:48 PM / Business & Tech

Photo: VCG

Photo: VCG

In a gesture of openness, China says it wants to encourage the entry of more wholly foreign-owned projects in the petrochemical industry, which has so far been dominated by state-owned enterprises.

Chinese Vice Premier Han Zheng said at a Thursday meeting with multinational energy giant Exxon Mobil’s CEO Darren Woods that the company is welcome to expand investment and set up more large “wholly foreign-owned petrochemical projects” in China, state-run Xinhua News Agency reported.

Han said opening-up is one of China’s fundamental policies, and that the country has been “actively” attracting foreign investment.

China remains a crucial market for global energy companies. As China continues to clean up its energy act, Exxon Mobil has also tied up with Chinese partners in liquefied natural gas projects, in addition to traditional petrochemical projects like gas stations.

Related: ExxonMobil Wants Its Own Multibillion-Dollar Plant in Guangdong

Share this article
Open WeChat and scan the QR code