On the morning of Nov. 9th, 2017, Chinese President Xi Jinping and U.S. President Trump held talks in the Great Hall of the People. From the afternoon of the 8th to the morning of 9th, both sides exchanged in-depth views on the Sino-U.S. relation and mutual concerns, and many consensuses were achieved through these talks. President Xi Jinping pointed out that Sino-U.S. relation matters the well-being of people of the two countries, as well as the peace, prosperity and stability of the world. Cooperation is the only right choice, while only through win-win cooperation, can the two countries be led to a better future.
On the morning of the 9th, the Sino-US Entrepreneurs’ Dialogue Meeting was held in the Great Hall of the People in Beijing. President Xi Jinping and President Trump attended the Sino-U.S. Entrepreneurs’ Dialogue meeting and witnessed the signing ceremony, which showed the great attention paid by the heads of the two countries to China-U.S. economic and trade cooperation. With the good guidance of the heads of state, enterprises from the two countries created a great miracle manifested by an economic and trade cooperation amounted up to 253.5 billion U.S. dollars. Not only a record of Sino-U.S. economic and trade cooperation was created, but also the record in the history of world economic and trade cooperation was refreshed, it fully demonstrated that cooperation is the only right choice, and win-win cooperation meets the common interests of the two countries.
The trade delegation following Mr. Trump’s first visit to China was made up of 29 US companies, involving the fields of energy, industry, financial services and agriculture. As the report of Reuters, the energy companies are numerically predominant over other companies in the list.
As a member of the trade delegation, American Ethane Company actively expanded and developed Chinese market in recent years. There is not yet an ethane cracking facility in China currently, but as the cooperation with Ganergy Heavy Industry Group (GNG Group) reached an agreement, American Ethane Company will enter Chinese market, seizing the first chance of reorganizing the industrial layout, thereby overturning the predominance of naphtha cracking ethylene in China, lowering the cost of ethylene, and enlarging our country’s strategic map of energy.
On the occasion of this opportunity and in response to the invitation of American Ethane Company, GNG Group and Jinzhou Municipal Government formed a delegation to visit American Ethane Company for business study in Houston on Nov. 18th, 2017 (Beijing Time), the delegation was made up with Mr. Wang Zhengquan, the Chairman, Chen Hong, the deputy general manager, Zhang Hao, the Assistant to Chairman, Jia Weiqian, the assistant to general manager from GNG Group; and An Jinxiang, the deputy mayor, and other governmental officers from Jinzhou City.
The delegation visited the headquarters of American Ethane Company and KBR, and took photos with their leaders. After that, they took a business aircraft to overlook the assets of American Ethane Company and its oil & gas fields. At last, our company signed a letter of intention about ethane supply with American Ethane Company in the afternoon of Nov. 20th, 2017 (Houston Time).
In response to the consensus reached by the leaders of the two countries, and in order for the rapid implementation of the project, the GNG Group signed the investment agreement of the 2 MMt/a ethane cracking ethylene project with Jinzhou municipal government on Sep. 30th, 2017.
The project is in line with the consensus recently reached by the leaders of China and the U.S., which will fill up the market vacancy in China, and make a significant contribution to the strategic layout of energy for this country. The cooperation will promote the economic development of both countries, further consolidate and deepen the relations between China and the United States, and bring more benefits to the people of both countries.
