Firm to boost chemical industry growth

Company strives to promote technological innovation ability, core competitiveness

Sinochem Holdings Corp, a new, centrally administered State-owned enterprise, will accelerate growth in modern agriculture, seed and chemical businesses through creating a source of original technology, its executives said. That will further ensure the safety of China's industrial and supply chains in those fields, they said.

The executives commented after the State Council, China's cabinet, unveiled the company's new name following the merger of Sinochem Group Co and China National Chemical Corp, also known as ChemChina, two State-owned chemical giants, in Beijing on Saturday.

Sinochem Holdings has more than 220,000 employees, including over 90,000 in overseas markets. It operates in eight business sectors covering life, environmental and materials sciences, basic chemicals, rubber and tires, machinery and equipment, municipal operations and industrial finance.