Sinochem

Sinochem Corporation (Chinese: 中国中化集团公司) is a Chinese state-owned multinational conglomerate primarily engaged in the production and trading of chemicals and fertilizer and exploration and production of oil for civilian and military purposes. Its majority owned fertilizer subsidiary Sinofert is involved throughout the chain from production of the product and procurement on international markets to distribution and retail. It is one of the world's largest chemical and petroleum companies.

Sinochem Group was founded in 1950. Its predecessor was China National Chemicals Import and Export Corporation was China's largest trading firm. Sinochem Group is the key state-owned enterprise under the supervision of State-owned Assets Supervision and Administration Commission of the State Council (SASAC). Sinochem's headquarters is located in Xiong'an, Hebei.

Sinochem's core businesses include energy, agriculture, chemicals, real estate and financial service. It is one of Chinese four state oil companies, China's biggest agricultural input company (fertilizer, seed and agrochemicals), China's leading chemical service company.

Sinochem currently owns more than 300 subsidiaries inside and outside China. It controls several listed companies including Sinochem International (SZSE: 600500), Sinofert (SEHK: 297) and Franshion Properties (SEHK: 817), and is the largest shareholder of Far East Horizon (SEHK: 3360). In June 2009, Sinochem Group established Sinochem Corporation as the vehicle for potential group IPO.

Sinochem Group is China's earliest^{[citation needed]} entrant in Fortune Global 500 and has been on the list 25 times, ranking 139th in 2016. Sinochem's recent revenue in 2020 was 54.2 billion renminbi.

Sinochem deals primarily in petrochemicals distribution, but also in synthetic rubber, plastics, and agrochemicals. It operates through more than 100 subsidiaries in China and abroad in concerns ranging from petroleum trading to real estate. Formerly owned directly by the Chinese government, Sinochem converted to a joint-stock company in 2009; initially it is owned by newly formed Sinochem Group (98%) and publicly traded Chinese shipping giant COSCO (2%). The move was designed to signal Sinochem's transformation to a market-oriented company.

Founded in 1950, it is China's largest trading company and its first multinational conglomerate.^{[citation needed]}

On 10 March 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 National Import was the first state-owned foreign trading company of the PRC.