Review on the Extraordinary 2020 of Sinochem




Sinochem Group
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The year 2020 was an extraordinary year in history both for China and for Sinochem Group.

Facing the severe and complicated internal and external situation, Sinochem Group earnestly fulfilled its duties and missions as a central SOE. By focusing on pandemic prevention and control on the one hand, and production and operation on the other, Sinochem Group led high-quality development with high-quality Party building, completing the main operation targets for the year and taking solid steps on the journey of creating into a world-class integrated chemical enterprise.

At the turn of the year, let’s review the extraordinary history of Sinochem's staff in 2020 through the following 26 pieces of news, and dedicate our most sincere blessings to all the lovely Sinochem's staff. May we uphold our original aspiration and bear in mind our mission, yielding greater results all the way!


Sinochem Group and ChemChina Integrated the Agriculture Business

On January 5, Sinochem Group announced that it will consolidate their major agricultural assets into Syngenta Group Co., Ltd. under China National Chemical Corporation. This move aims to deepen the reform of state-owned enterprises and optimize the allocation of resources. It is also an important step to strengthen the cooperation between Sinochem and ChemChina. On January 14, Syngenta Group completed name change. On June 19, Syngenta Group China was officially established, aiming to advance China’s agricultural S&T progress and modernization transformation and upgrading as a critical driver.

Sinochem Group Resumed Work and Production Steadily While Fighting Against COVID-19 Pandemic

Facing the sudden outbreak of COVID-19 pandemic at the beginning of the year, Sinochem Group responded at the first time and quickly set up the pandemic prevention and control leading group and working group to ensure the overall situation stable and controllable. According to the spirit of important instructions made by General Secretary Xi Jinping and the decisions and arrangements of the CPC Central Committee, the State Council and the Party Committee of the SASAC on resuming work and production, Sinochem Group took seriously and strengthened both pandemic prevention and control and production and operation to stabilize production and ensure supply, actively fulfilled its responsibility as a central SOE, as well as served and guaranteed the overall fight against COVID-19 pandemic, providing support for social and economic development.

Sinochem Group and ChemChina Made Donations for the Frontline of Fighting Against COVIS-19 Pandemic

On January 28, Sinochem Oil Marketing Co., Ltd. sent 10,000 liters of oil to the construction site of Huoshenshan Hospital to boost China’s speed. On January 29, Sinochem and ChemChina announced a total donation of RMB 50 million to the front line of pandemic prevention and control in Hubei; Sinochem and ChemChina jointly donated 60,000 masks to Tongji Medical College of Huazhong University of Science and Technology in Wuhan; Party organizations at all levels called for and organized voluntary donations from workers. Relevant departments of the State Council and Hubei Province sent letters of appreciation for our donations and contributions to the pandemic prevention and control.

Sinochem Agriculture Launched the Action of “Combating the Pandemic and Securing the Spring Farming”

At the critical stage of pandemic prevention and control, spring cultivation is at the most urgent seasonal farming time. As the national mainstay in agriculture, Sinochem Group launched the action of “combating the pandemic and securing the spring farming” to contribute to national food security and agricultural safety. While carrying out spring farming preparation cultivation services in an orderly manner by such means as agricultural supplies stocking, timely distribution, remote training and online instruction, Sinochem Agriculture launched the Public Welfare Action of MAP Rural Joint Pandemic Prevention nationwide to help fill the gap of rural pandemic prevention work in key areas by donating pandemic prevention supplies, promoting pandemic prevention and control, organizing centralized extermination operations, and so on.

Sinochem Group’s Targeted Assistance Areas were Lifted out of Poverty

On March 5, the People’s Government of the Inner Mongolia Autonomous Region announced that Ar Horqin Banner in Chifeng City, an area enjoying targeted assistance of Sinochem Group, officially got rid of its status as a poverty-stricken banner county. So far, all the seven areas in Inner Mongolia, Tibet and Qinghai receiving pairing assistance and targeted assistance from Sinochem Group have been withdrawn from the rank of poverty-stricken counties.

Sinochem Group Boosted Economic Recovery in Hubei Province and Wuhan City

On June 3, Sinochem Group signed a cooperation agreement with the People’s Government of Wuhan Municipality on China Jinmao Wuhan Yangtze River TOD Complex to help the economic recovery in Wuhan, Hubei, with an investment amount of about RMB 5 billion. Sinochem High-Tech Investment Management (Hubei) Co., Ltd. was licensed as a private equity fund manager and completed the filing of Sinochem Xingfa (Hubei) High-Tech Industrial Fund on June 18, the first anti-pandemic fund settled in Hubei.

LUXI Group Officially Joined Sinochem Group

On June 15, LUXI Group completed the registration modification formalities for commerce and industry, with Sinochem Group as the controlling shareholder of LUXI Group and the defacto controller of its listed company LUXI Chemical. Mr. Frank Ning, Chairman of Sinochem Group, became the Chairman of LUXI Group. LUXI Group’s consolidation into Sinochem Group will quickly strengthen Sinochem’s business and technology shortcomings in the field of materials science, enhance engineering innovation capabilities, and gain strong synergy in chemical park construction and operation, high-end chemical equipment manufacturing, etc.

Sinochem Group Arranged Ecological and Environmental Protection Work

On June 28, Sinochem Group held the 2020 Ecological and Environmental Protection Work Conference, at which it summed up the achievements in the field of ecological and environmental protection over the past year, objectively analyzed the challenges and problems in environmental protection governance, and made decisions and arrangements on the key tasks. On November 27, in order to thoroughly study and implement the spirit of important instructions made by General Secretary Xi Jinping at the symposium on comprehensively advancing the development of the Yangtze River Economic Belt, Sinochem Group held a symposium on ecological and environmental protection of enterprises in Wuhan, Hubei to properly handle the relevant work.

Sinochem Group and ChemChina Held the Conference on Celebrating the 99th Anniversary of CPC’s Founding and Commending Outstanding Party Workers, Outstanding Communist Party Members and Advanced Grassroots Party Organizations

On July 1, Sinochem Group and ChemChina jointly held a conference on celebrating the 99th anniversary of CPC’s founding and commending outstanding party workers, outstanding party members and advanced grassroots party organizations in Beijing. Mr. Frank Ning, Secretary of the Leading Party Members’ Group and Chairman of Sinochem Group and Secretary of the Party Committee and Chairman of ChemChina, delivered a special party lecture entitled “Bearing in mind the Original Aspiration, Practicing the Responsibility of A Central SOE, and Building into A World-class Integrated Chemical Conglomerate”.

Sinochem Group Was Rated Grade-A for the 15th Time in the SASAC Performance Assessment

On July 17, the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council announced the results of the 2019 business performance assessment for the heads of central enterprises. Sinochem Group completed all the assessment indicators of SASAC in 2019 and was again rated Grade-A. So far, Sinochem Group has been awarded Grade-A in the performance assessment conducted by SASAC for the 15th time.

Chairman Frank Ning Attended and Spoke at the Symposium with Entrepreneurs

On July 21, Xi Jinping, General Secretary of the CPC Central Committee, President of the People’s Republic of China and Chairman of the CPC Central Military Commission, chaired a symposium with entrepreneurs and delivered an important speech, urging efforts to spur the vitality of market entities, promote entrepreneurship, and enable enterprises to play a bigger role and achieve greater development. At the symposium, Mr. Frank Ning, Chairman of Sinochem Group, made remarks on the transformation of state-owned enterprises into scientific and technological innovation-oriented enterprises. On September 2, the State Council Information Office held a meeting with Chinese and foreign journalists. Four entrepreneurs including Mr. Frank Ning met and exchanged with them around the “promotion of entrepreneurship”.

Sinochem Group and ChemChina Concluded Strategic Cooperation Agreements with Several Provinces

Since July, Sinochem Group and ChemChina have concluded strategic cooperation agreements with several provinces including Fujian, Zhejiang and Guangdong, respectively. Both will strengthen all-round practical cooperation in key fields such as energy and chemicals, modern agriculture, urban operation, equipment manufacturing, modern finance, environmental protection and business consulting with these provinces as important strategic partners.

Sinochem Group Yielded Fruitful Results in Scientific and Technological Innovation

On August 4, Sinochem Group held the 2020 Science and Technology Innovation Conference. Guided by the core value of “In Science We Trust”, this year witnessed the group’s science and technology innovation work advancing steadily with a number of results. On April 27, Shenyang Research Institute of Chemical Industry Co., Ltd. and Sinochem Environment Holdings Co., Ltd., two national high-tech enterprises under Sinochem Group, were selected in the list of enterprises of Science Reform Demonstration Action by the Leading Group for State-owned Enterprises Reform of the State Council. On August 6, the Engineering Technology Innovation Center of Sinochem Group was formally established based on LUXI Group. On December 3, LUXI Group and Sennics Anhui under Sinochem Group entered the list of 2020 National Technological Innovation Demonstration Enterprises by Ministry of Industry and Information Technology. On December 23, at the National Petroleum and Chemical Industry Science and Technology Innovation Conference held by China Petroleum and Chemical Industry Federation, several scientific research achievements and scientists of Sinochem Group were awarded as the winning entity and advanced individuals in science and technology innovation in the petrochemical industry for 2020.

Sinochem Group Entered the Fortune Global 500 List for the 30th Time

On August 10, the Fortune magazine announced the 2020 List of Fortune Global 500. As one of the first Chinese enterprises in such list, Sinochem Group has entered the list for the 30th time, with the latest ranking of the 109th.

Sinochem Quanzhou Petrochemical Successfully Started Operation of Ethylene Project

On September 20, Sinochem Quanzhou Petrochemical’s 1m tons/year ethylene and refined oil expansion project achieved successful operation and produced qualified products at one time in the first batch of eight sets of equipment. It marked the further improvement of Sinochem Energy’s industrial chain, the continuous consolidation of the industrial foundation of core business, and the smooth transformation of refining and chemical integration. On December 28, the second batch of equipment started operation successfully, drawing a great end for 2020.

Sinochem Group Was Awarded Advanced Entities and Individuals in Fighting Against COVID-19 Pandemic

On October 22, the Party Committee of State-owned Assets Supervision and Administration Commission (SASAC) of the State Council held a commendation conference for central enterprises in fighting against COVID-19 pandemic and a seminar on advanced deeds. Jiangsu Ruixiang Chemical Co., Ltd., a subsidiary of Jiangsu Yangnong Chemical Group Co., Ltd. under Sinochem Group, was awarded the Advanced Collective in Combating COVID-19 Pandemic, and two Sinochem employees, Zhang Xuemei from Sinochem Oil Hubei Co., Ltd. and Wu Xuelin from Changsha Jinmao Property Co., Ltd. were awarded the Advanced Individual in Combating COVID-19 Pandemic.

Sinochem Group Held 70th Anniversary Celebration

On October 30, Sinochem Group celebrated the 70th anniversary of its founding themed on “Innovation and Entrepreneurship for Seventy Years, Science First and Common Future” in the lobby of the East Tower, Chemsunny World Trade Center in Beijing. Employees from the functional departments of the headquarters, five SUBs, retired Party cadres and employees from ChemChina paid tribute to the 70th anniversary of the founding of Sinochem Group through various artistic performances, such as songs and dances and poetry recitation, which were all written, directed and performed by themselves.

Sinochem Group Conveyed and Studied the Spirit of the Fifth Plenary Session of the 19th CPC Central Committee and the Central Economic Work Conference

On November 2, Sinochem Group conveyed and studied the spirit of the Fifth Plenary Session of the 19th CPC Central Committee. The meeting pointed out that Sinochem Group should carry the spirit of the Fifth Plenary Session through the compilation of the Group’s 14th Five-Year Plan, resolutely implement the reform and development of state-owned enterprises and support the implementation of the national 14th Five-Year Plan in the field of comprehensive chemical industry. Sinochem Group will further enhance the role of science and technology innovation in supporting the strategic development of the enterprise and build into a world-class comprehensive chemical conglomerate. On December 21, the Party Leadership Group of Sinochem Group conveyed and studied the spirit of the Central Economic Work Conference. The meeting emphasized that the important deployment of the Central Government on solving seeds and arable land issues should be resolutely implemented; high-quality development should be advanced steadily under the guidance of the new development concept; the comprehensive deepening of reform and innovation should be upheld to seek breakthroughs with innovation and promote growth with reform.

Sinochem Group and ChemChina Jointly Deployed the Benchmarking First-Class Management Improvement Action

On November 3, Sinochem Group and ChemChina jointly held a meeting on deploying the Benchmarking First-Class Management Improvement Action, at which they studied and implemented the spirit of the important instructions made by General Secretary Xi Jinping, conveyed the general requirements of State-owned Assets Supervision and Administration Commission (SASAC) of the State Council's Benchmarking First-Class Management Improvement Action, announced the implementation and promotion progress in both companies, and remobilized and redeployed the comprehensive benchmarking work.

Sinochem Group and ChemChina Held the Joint Signing Ceremony at China International Import Expo

On November 5, Sinochem Group Co., Ltd. (Sinochem Group) and China National Chemical Corporation Ltd. (ChemChina) jointly held the signing ceremony at the 3rd China International Import Expo (CIIE). The two companies made full use of the CIIE as a global event to optimize and smooth the supply chain of the industry chain and promote high-quality development. The two companies signed cooperation agreements with 34 customers and purchased more than 20 kinds of commodities from 17 countries and regions, which are well received by the partners at home and abroad.

China Jinmao Completed Its Annual Sales Target of RMB 200 Billion Ahead of Schedule

On November 30, CRIC released a list, according to which China Jinmao achieved a total contracted sales amount of RMB 200.3 billion from January to November, completing its annual sales target of RMB 200 billion one month ahead of schedule as one of the few real estate enterprises to achieve steady growth against the trend and complete its target ahead of schedule. According to CRIC’s full-caliber sales list, from January to November, China Jinmao’s contracted sales increased by 35.14% over the last year, ranking 1st among the TOP15 real estate enterprises; China Jinmao ranked 14th in the industry, up 4 places year-on-year, with a rise ranking 1st among the TOP15 real estate enterprises.

Sinochem Lianyungang Circular Economy Industrial Park Made Significant Progress in the Construction of Several Projects

In November, Sinochem Lianyungang Circular Economy Industrial Park witnessed its important infrastructure project of wharfs and storage tanks entering the implementation stage. In October, the phase I of Sinochem Carbon III Industry Project entered the engineering construction stage and is expected to be completed and put into operation by the end of June 2022. The project is highly related to the integrated development of five new material industry chains including ABS, epoxy resin, PPG-PU, PC and polymer additives in Sinochem Lianyungang Circular Economy Industrial Park, and carries the historical mission of Sinochem Group’s innovative breakthroughs and upgrade in the materials science and refining industry. The Lianyungang Sennics Polymer Additives Project is in the preliminary preparation of engineering construction, and will enter the foundation construction stage in January next year.

Mr. Qin Hengde Was Honored the Model in Central SOE

On December 23, the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council held the Fifth Release of Models in Central SOEs in Beijing. Mr. Qin Hengde, Secretary of the Party Committee and President of SBU of Agriculture in Sinochem Group and President of Syngenta Group China, was awarded the honorary title of Model in Central SOE. This is the second Sinochem employee receiving this honor after Mr. Liu Changling in 2019.

Sinochem Capital Reached New Highs in Business Scale

As of December, Sinochem Capital overcame the impact of the pandemic and recorded new highs in business scale. FOTIC Wealth Management Center raised over RMB 100 billion for the first time via Wuxing Wealth APP cloud contract signing through technology empowerment; China Foreign Economy and Trade Trust Co., Ltd. (FOTIC) focused on actively managed securities FOF products and the highest value of its scale exceeded RMB 6 billion, becoming the TOP 1 manager in the trust industry in terms of FOF scale; Venture Capital Private Equity Fund focused on the innovation direction of the Group’s main business, and its management scale exceeded RMB 10 billion.

Sinochem Environment Boosted the Environmental Protection Business of Sinochem Group and ChemChina towards Rapid Development

In 2020, Sinochem Environment steadily promoted key rectification projects focused by the central environmental protection inspection, such as Sichuan Zhanghua and Guizhou Tianzhu, saving hundreds of millions yuan of investment for ChemChina and striving to construct a national slag site restoration and treatment demonstration project. Sinochem Environment led the establishment of the Working Group on Environmental Business Synergy for Sinochem Group and ChemChina, integrated the advantageous resources including market, technology, procurement, and industry-financing combination, cooperated in water treatment, soil remediation, and environmental monitoring, and promoted projects such as Xinghuo organosilicon, seawater desalination, and Jinan Yuxing projects to actively create incremental value.

SASAC Announced the Appointment of Outside Directors of Sinochem Group

On December 30, relevant officials of First Bureau for the Administration of Corporate Executives (Bureau of Board of Directors Affairs) under the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council announced Party Committee's decision at the cadre meeting on appointing Mr. Deng Zhixiong and Mr. Lei Dianwu as outside directors of Sinochem Group.