At 4:00 pm on May 17th, the strategic cooperation framework agreement for the CNOOC Shell Huizhou Phase III ethylene project held a "cloud signing" ceremony simultaneously in Guangzhou, Beijing, and The Hague, Netherlands. The total investment of the project is about 5.6 billion US dollars (about 39.6 billion yuan), and it is located in the Daya Bay Petrochemical Zone. This continuous increase in investment means that Huizhou has taken another step towards becoming a world-class petrochemical industry base.