On November 6, Sinochem Group Co., Ltd. (Sinochem Group) and China National Chemical Corporation Ltd. (ChemChina) jointly held the signing ceremony at the 2nd China International Import Expo (CIIE) and released trading results. The two corporations signed cooperation agreements with 30 partners on site. Mr. Frank Ning, Chairman of Sinochem Group and ChemChina, delivered remarks. Mr. Yang Hua, Director and President of Sinochem Group presided over the ceremony.
Mr. Frank Ning said that as a major initiative of China to expand imports and open market, the CIIE serves as an important platform for other countries to share China’s development opportunities and for foreign enterprises to explore Chinese market and deepen reciprocal cooperation. As corporations with global presence, Sinochem Group and ChemChina base many of their business operations on international cooperation and global marketing. They are beneficiaries and strong supporters of trade liberalization and economic globalization. They will continue to leverage the CIIE as an important platform for expanding the scope and strength of international cooperation, and strengthening exchanges and cooperation with top-tier enterprises and R&D institutions worldwide through the introduction of quality products and technologies. Both corporations will continue to share business opportunities of economic and trade cooperation, seek mutual benefits, and contribute to global market as participant and contributor. Sinochem Group and ChemChina will work with global partners to help build an open world economy.
At the 1st CIIE last year, the two corporations signed a number of cooperation agreements with partners for advancing industrial upgrading and high-quality development through the introduction of high-quality products and technical cooperation. Sinochem Group and ChemChina signed purchase and sales agreements with 30 clients at this CIIE, making efforts in both purchasing and selling, with quality and structure of products continuously being optimized.
Sinochem Group signed purchase agreements with 11 partners mainly on high-end chemicals, high-quality crude oil and fertilizers, such as crude oil, plastics, polyether polyols, propylene oxide, potassium chloride, sulfur, cocoa beans, menthol, etc. These products come from 9 countries and regions, including the United States, Russia, Saudi Arabia, Kuwait, India, Singapore, Cote d’Ivoire, Hong Kong and Taiwan of China, etc. The partners are all well-known multinational corporations, including Saudi Aramco, Kuwait Petroleum Corporation, Chi Mei Corporation (Taiwan), Saudi Basic Industries Corporation, Dow Chemical Company, Sucden Corporation (France), Formosa Chemicals & Fibre Corporation (Taiwan), Trinseo (Hong Kong) Limited, Herbochem Industry (India), Uralkali Trading SIA (Russia), and Swiss Singapore Overseas Enterprises.
Unlike Sinochem Group which focuses on procurement, ChemChina is engaged in both procurement and selling. In terms of purchase, domestic branches of ChemChina signed agreements with 6 foreign partners on crude oil, chemicals, ores, natural rubber and technical cooperation, including Mercuria Energy Trading (Switzerland), Paramount Energy SA (Switzerland), Kao Corporation (Japan), Wogen Resources Ltd. (the U.K.), Southland Resource Co., Ltd. (Thailand), and Sri Trang Agro-Industry Plc. (Thailand). In terms of sellings, ChemChina actively organized 5 of its overseas branches to participate in this CIIE, including Elkem (Norway), Syngenta (Swiss), Adama (Israel), Adisseo (France), and Krauss-Maffei (Germany). Pirelli (Italy) participated in the agreement signing on seed, plant protection products, methionine, PET foam production line, and technical cooperation. Partners include 13 Chinese customers: Wuhan University of Science and Technology, Yangling Agricultural High-tech Industry Demonstration Zone, Shandong Golden Seeds, SnowValley Agriculture, Kunming Agricultural Materials, Zhejiang Agricultural Materials Group, Sino-Agri Group, Beijing Electric Vehicle Co.,, Dongfeng Passenger Vehicle Company, China Resources Chemical Innovative Materials Holdings Beijing New Energy Vehicle Technology Innovation Center, Beijing Carbon-fiber Engineering Technology Research Center, and Mengniu Dairy.
During the release of trading results, several media raised questions on the original intention of the joint signing of two corporations, the opportunities of Adisseo in Chinese market, the internationalised operation and overseas market development of Chinese enterprises, as well as scientific and technological innovation. Mr. Frank Ning, Mr. Yang Hua, Mr. Hu Xuteng (Vice President of ChemChina), and Mr. Jean-Marc, CEO of Adisseo) took questions from the media. Mr. Frank Ning stressed that Sinochem Group is committed to building into a world-class comprehensive chemical conglomerate centering on petrochemicals, led by life science and material science, and guaranteed by environmental science. Sinochem Group will continue to import quality products and services to meet production needs, and advance the transformation, upgrading and high-quality development of China’s chemical industry while satisfying people’s pursuit of a better life through the internationally open CIIE.
Before the signing ceremony, Mr. Frank Ning and his delegation visited partners’ booths member companies of ChemChina. They visited the booths of Formosa Plastics, Honeywell, Dow Chemical Company, DuPont, Elkem, Krauss-Maffei, Syngenta, Adama and Adisseo to learn about their featured products and hold in-depth exchanges with them.
They also attended the signing ceremony of Honeywell and Sinochem Group, and the 80th anniversary celebration of Bluestar Adisseo.