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Trade war

Exxon Mobil to build chemical plant and LNG terminal in China

Multibillion-dollar investment potentially benefits US exports

China has about 20 liquefied natural gas terminals. Exxon Mobil's investment fits with Beijing's goal to increase imports from the U.S. and calm trade tensions.   © Reuters

BEIJING -- Exxon Mobil agreed to invest several billion dollars for a chemical complex and liquefied natural gas terminal in Guangdong Province, the company said Thursday, tapping rising Asian demand and China's desire to ease the trade war with Washington.

CEO Darren Woods met Wednesday in the province with top officials including Li Xi, the Communist Party secretary for Guangdong, to sign a framework agreement with the province.

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