Sinochem Holding Co., Ltd. was inaugurated and established and settled in Xiong'an

May 11, 2021

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Highlights at a glance

On May 6, 2021, Sinochem Holdings Co., Ltd., formed by the merger of Sinochem Corporation and China National Chemical Corporation, was officially established in Xiongan New District, marking a milestone in China’s chemical industry. With a registered capital of 55.258 billion yuan—surpassing the combined total of its predecessors—the new entity is one of China's largest state-owned industrial enterprises. Settling at address number 001 in Xiongan’s headquarters zone, it is among the first central enterprises to relocate there. Led by Chairman Ning Gaoning and General Manager Li Fanrong, Sinochem unites two Fortune 500 companies into a powerhouse with over 1 trillion yuan in assets and 220,000 employees. The inaugural meeting held on May 8 in Beijing underscored the strategic significance of this重组, positioning Sinochem as a world-class comprehensive chemical enterprise driving national industrial advancement.

On May 6, 2021, Sinochem Holdings Co., Ltd. (hereinafter referred to as "Sinochem"), a joint reorganization of Sinochem Corporation and China National Chemical Corporation, was officially registered and established in Xiongan New District. Ning Gaoning is the chairman and party secretary of Sinochem, and Li Fanrong is the director, general manager and deputy secretary of the party committee. On May 8, 2021, Sinochem's inaugural meeting was held in Beijing. This is a milestone event in the history of the development of my country's chemical industry, and a crucial step for building a world-class comprehensive chemical enterprise.

According to the business license information, the registered capital of the new company is as high as 55.258 billion yuan. According to public data, the current registered capital of Sinochem Group is 43.40421 billion yuan, and the registered capital of China National Chemical Corporation is 11.1 billion yuan. The total registered capital of the two is 54.50421 billion yuan, which is lower than Sinochem. After the reorganization of the two Fortune 500 state-owned enterprises, a giant company with assets of over one trillion yuan and 220,000 employees will be formed.

It is reported that Sinochem's registered and settled address is the corporate headquarters area of the start-up zone in Xiong'an New District, number 001. It can be said to be one of the first batch of central enterprises to settle in.

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