GUANGZHOU, July 15 (Xinhua) -- Energy giant ExxonMobil on Tuesday began operation of its landmark chemical complex in southern China, the country's first major petrochemical project wholly owned by a U.S. company.

The move highlights ExxonMobil's confidence in the world's second-largest economy and comes amid China's ongoing efforts to promote high-standard opening up and attract foreign investment.

Located in the Daya Bay Petrochemical Industrial Park in Huizhou, Guangdong Province, the first phase of the project consists of a flexible feedstock steam cracker with an annual capacity of 1.6 million tonnes of ethylene, a key building block for plastics and fibers used in a wide range of products like packaging.

The site also houses production units for high-performance polyethylene and polypropylene.

Hailing the establishment of this complex as "the latest chapter" in the long story of ExxonMobil's presence in China, the company's senior vice president Jack Williams said at the launch ceremony that the project will serve as an anchor for Guangdong to develop a robust petrochemical industry.

Construction of the Huizhou complex began in April 2020 and involves two phases.

(Source: Xinhua)