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On December 28, mechanical completion ceremony of 1000 KTA ethylene project of Sinopec Zhenhai Refining & Chemical Company was held, demonstrating that the ethylene project with the largest scale, the most advanced technology and the highest localization rate completely entered start-up period from construction period. Zhang Kehua, vice president of Sinopec, Meng Gang, deputy secretary-general of Zhejiang Provincial Government, and Yu Hongyi, vice mayor of Ningbo City attended the mechanical completion ceremony.

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1000 KTA ethylene project and its supporting facilities of ZRCC is a national key construction project, the leading project of Ningbo national petrochemical base and the industrial project with the largest investment in the history of Zhejiang province. It only takes 37 months from start to completion. After the ethylene project was completed, which consists of 10 key units and utility system with 23.5 billion yuan investment, ZRCC boasts 23 million tons / year refining capacity and 1 million tons / year ethylene production capacity, forming oil refining and petrochemical "fly with both wings" development pattern, achieving resources and raw materials allocation optimization and value maximization. According to theoretical calculations, more than 20 billion yuan sale revenue can be increased annually after the project is put into operation, which will have a major impact on Zhejiang's economy and become the new regional economic development engine.