Forum fuels cross-Straits co-op in petrochemical industry

Wu I-kui, president of the USIG, a Taiwan-headquartered behemoth in petrochemical industry, hoped that Fujian and Taiwan expand collaboration using the Gulei park as a platform and further extend the industrial value chain of the park.

"Looking into the future, I hope the Gulei park will develop in a high-quality, high value-added and sustainable growth model," he added.

In 2017, the output value of petrochemical industry in Fujian stood at 360 billion yuan ($52.4 billion), an increase of 50 billion yuan from the previous year, official data show.

There are mainly three bases or parks producing the petrochemicals including ethylene, polypropylene and caprolactam in the province. On top of the Gulei park in Zhangzhou, the other two are the Quangang Petrochemical Industrial Park in Putian, and Jiangyin Petrochemical and New Material Special Zone in Fuzhou.