Chemical ETF Penghua rises nearly 1%, intraday net subscriptions hit 210 million units; China's first full-chain green low-carbon ethylene project goes into operation

Industry
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Summary · why it matters

The chemical sector bucked the trend and moved higher, as China's first ethylene project fully implementing green and low-carbon development concepts officially went into operation. On July 16, PetroChina Dushanzi Petrochemical Tarim's 1.2 million tonnes per year Phase II ethylene and supporting green low-carbon demonstration project successfully started up on a single feed and entered full production, marking the completion of China's first 3 million tonne ethylene industrial base in the central and western regions. As of 11:30 on July 17, the CSI Subdivision Chemical Industry Theme Index rose 0.76%, and Chemical ETF Penghua gained 0.93% to 0.76 yuan, with intraday net subscriptions of 210 million units. Changjiang Securities noted that most chemical product spreads are currently at historical lows, the supply contraction trend is clear, and chemical product prosperity is expected to continue its upward trajectory.

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Others · 3 stocks
PetroChina Co Ltd Class A
601857
▲ PositiveTechnologyrelevance

PetroChina's Dushanzi Petrochemical subsidiary successfully started up China's first full-chain green low-carbon ethylene project, marking a major operational milestone.

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