China Import Co., Ltd.
On March 10, 1950, in an aim to unify domestic trade, fulfill the set target of the import & export volume, lead the domestic market, strike a balance between supply and demand, and boost the recovery and development of domestic production, the central government made a decision to set up a national level foreign trade company under the leadership of the Trade Ministry. The predecessor of Sinochem-- China National Import Corporation was formally established.
China Import & Export Co., Ltd.
On Jan. 8, 1951, the preparation team for China National Import & Export Co was set up. The staff of the company came from China National Import Corp and its subsidiaries in North China. On Feb. 13, entrusted by the Trade Ministry, China National Import & Export Co took on the responsibility to oversee the import & export business of some Hong Kong institutions. When it was put into operation on March 1, the main task of the company was to tear down the blockade and trade embargo imposed by the West, and conduct trade with capitalist countries.
China National Chemicals Import & Export Co., Ltd.
On Jan. 1, 1961, after restructuring of MOFTEC's affiliated administrative units and enterprises, China National Import & Export Co was changed into China National Chemicals Import & Export Corp.
China National Chemicals Import & Export Corp.
On June 12, 1965, in order to communicate more efficiently and conveniently with foreign merchants and related domestic institutions, MOFTEC decided to standardize the names of foreign trade companies. On July 16, China National Import & Export Co was changed into China National Import & Export Corp.
On Nov. 10, 2003, since the former name of Sinochem was neither able to exemplify the market positioning and value of the company, nor the future development trend, Sinochem changed its name from China National Chemicals Import & Export Corporation to Sinochem Corporation with the approval of the State Assets Administration and Supervision Commission and the State Industry and Commerce Administration. On Dec. 26, 2017, Sinochem Group changed from an enterprise owned by the whole people to one that is solely state-owned, with a new full company name of Sinochem Group Co., Limited.