China National Chemical Corporation (ChemChina), a state-owned enterprise incorporated based on the most influential enterprises under the former Ministry of Chemical Industry, is China’s largest chemical company ranking the 211th among Global Fortune 500 enterprises. It has 160,000 employees, of whom 83,000 work overseas. In 2016 its assets totaled RMB 377.642 billion, with sales revenue reaching RMB 300.127 billion. Strategically positioned to create “new materials in the time-honored chemical industry”, ChemChina specializes in six business segments -- new chemical materials & special chemicals; basic chemicals; oil processing; agrochemicals; tire & rubber products; chemical equipment. The company has production bases, R&D bases, and full-fledged marketing networks in 150 countries and regions. Specifically, it has six specialized companies, four directly-affiliated units and 92 production and operation enterprises. Also, it controls seven companies listed in the A-share market, with ten overseas subsidiaries being operated. It is a national innovation-oriented enterprise boasting 26 research and design institutes. By the end of 2016, ChemChina had been granted 10,800 valid patents, with invention patents accounting for 76%. ChemChina is the largest non-patented pesticide manufacturer of herbicides, insecticides, bactericides, plant growth regulators, more than 120 kinds of pesticides and over 800 preparations. It has registered nearly 5,000 products and over 6,000 trademarks in 120 countries.
Chinese state-owned Sinochem Group and ChemChina will merge to create a new company, and Sinochem Chairman Ning Gaoning will become the chairman of ChemChina.
Back when the Chinese government was encouraging state-owned enterprises and private sector companies to “go out” of the country, few responded as energetically as Chem...