On the morning of November 16, the groundbreaking ceremony for Jiangsu Wanwei’s annual 200,000-ton ethylene-based functional PVA resin and supporting projects was held in Binhai Coastal Industrial Park. Zhou Bin, Party Secretary of CPC Yancheng Municipal Party Committee, attended the ceremony and announced the start of the project. Wu Fusheng, Secretary of the Party Committee and Chairman of Anhui Wanwei Group Co., Ltd., delivered a speech.

The high-tech materials industry is a strategic and fundamental industry, serving as the cornerstone and forerunner of the development of high-tech industries. Anhui Wanwei Group is a leading enterprise in China’s PVA and vinylon industry. Through its wholly-owned subsidiary, Wanwei High-Tech, the group has launched a 10-billion-yuan-level PVA and downstream industrial chain project in Binhai County. The main product, PVA, is a water-soluble polymer material with excellent insulation, film-forming properties, and gas barrier properties, which is widely used in new energy vehicles, packaging, construction, pharmaceuticals, and other fields. After the full commissioning of the project, it is expected to achieve an annual sales volume of approximately 10 billion yuan and tax revenue of 500 million yuan.