ChemChina and Sinochem sign contract jointly at CIIE

On the afternoon of November 5, ChemChina and Sinochem jointly held a signing ceremony at CIIE. Ning Gaoning, Chairman of ChemChina and Sinochem delivered a speech and announced the deals. Yang Shihao, Vice President of Sinochem, presided over the signing ceremony. Hu Xuteng, ChemChina Vice President, and Zhong Ren, Sinochem Vice President, respectively introduced the their cooperation with partners.

“We face a very unusual period hit by various uncertainties including the international trade disputes and COVID-19 outbreak,” Ning Gaoning stated, “However, I am very happy to see you all gathered here with a smile to discuss cooperation and development. It is not easy.” He believed this is undoubtedly benefited by the most stable and sustainable growth in China. “In fact, no matter how the international situation and society change, we should still believe in the power of business, companies, innovation and market.”

Ning pointed out that the signing of the contracts once again showed our confidence in the future. ChemChina and Sinochem are in the process of planning strategic restructuring, which will bring about a new creative company. This company will form a better industrial chain and supply chain management, and will also forge a larger market scale, more innovation and R&D, and become a comprehensive company with consecutive growth. In the future, ChemChina and Sinochem will have mutual trust and win-win results with partners and achieve better development together. The China International Import Expo provides a very good platform for communication, continuous partnership and exploration of new ways of cooperation.

In the first two CIIE, ChemChina and Sinochem signed a number of agreements with their partners to promote industrial upgrading and help the companies develop by introducing high-quality products and technical cooperation.

At CIIE this year, the two companies signed cooperation agreements with 34 customers and purchased more than 20 kinds of commodities from 17 countries and regions. Among them, Sinochem mainly purchased high-end chemicals and high-quality crude oil with purchase amount greatly increased. ChemChina continued to make two-way efforts from the purchasing and the sales side.

In terms of purchasing, ChemChina’s domestic subsidiaries signed agreements with five foreign companies to purchase crude oil, fuel oil, chemicals, natural rubber and ilmenite. Partners included Mercuria of Switzerland, KAO of Japan, Wogen of Britain, Lianrun Rubber of Thailand and Halcyon Agriculture of Singapore.