Shanghai Huayi Wujing Plant Closure: Market Impact

Shanghai Huayi shuts down Wujing methanol and acetic acid facilities

Jun 24, 2026

Shanghai Huayi Energy & Chemical Co., Ltd., a wholly-owned subsidiary of Huayi Group, has permanently ceased operations at its Wujing base in response to directives from government authorities. The closure aligns with industrial restructuring policies and carbon peaking targets specific to the Wujing region. The Wujing facility, which has been in operation for several decades, primarily produced methanol, acetic acid, hydrogen, and synthesis gas. The shutdown is part of the company's efforts to comply with national “dual carbon” goals—targeting carbon peaking and carbon neutrality—and reflects its commitment to sustainable development. Huayi Group stated that the move supports its broader strategy to advance green, low-carbon transformation and enhance its environmental and social responsibilities.