China okays long-planned merger of Sinochem and ChemChina

A man walks past the office building of Sinochem in Beijing, China February 21, 2017. REUTERS/Damir Sagolj – RC1A4AD9BAB0
Photo by Reuters

China’s State Council, the country’s cabinet, has approved a long proposed merger of Sinochem Group and China National Chemical Corp, or ChemChina, the Chinese state assets regulator said on Wednesday.

The complex merger, which has been under discussion since at least 2017, would create the world’s biggest industrial chemicals firm.

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