On March 31, 2021, at the approval of the State Council, Sinochem Group Co., Ltd. (“Sinochem”) and China National Chemical Corporation Ltd. (“ChemChina”) undertook a joint restructuring. The newly established company, Sinochem Holdings Corporation Ltd. (“Sinochem Holdings”) is wholly owned by the State-owned Assets Supervision and Administration Commission representing the State Council. Sinochem and ChemChina thereof became the wholly-owned subsidiaries of Sinochem Holdings. On May 8, 2021, Sinochem Holdings was established.
Sinochem Group was established on March 10, 1950. Its predecessor, China Import Corporation, was the first state-owned trading enterprise established along with the founding of new China with Mr. Lu Xuzhang being appointed as its first President. ChemChina was founded on May 9, 2004, through the restructuring of China National BlueStar Corporation, China Haohua Chemical (Group) Corporation and other companies affiliated to the former Ministry of Chemical Industry.
Going forward, Sinochem Holdings will uphold the value of “In Science We Trust”, endeavor to build a technology-driven innovator and a world-class chemical conglomerate, constantly bring its technological innovation capacity, core competitiveness, and sustainability to next level. With a view to becoming a respectable world-class company and an industry leader, we are contributing our bit to the industrial development and social progress.