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reporter | Edited by Hou Ruining | “The two "mergers of informatization and informatization have resulted in * * approve. On the evening of March 31, the official website of the State-owned Assets Supervision and Administration Commission of the State Council announced that with the approval of the State Council, China Sinochem Group Co., Ltd. (hereinafter referred to as Sinochem Group) and China National Chemical Corporation (hereinafter referred to as ChemChina) will implement a joint reorganization. This marks the official start of the merger of the "two informatizations". On the evening of the same day, Sinochem Group’s official Weibo announced that according to the reorganization plan, a new company will be established with the State-owned Assets Supervision and Administration Commission performing investor duties on behalf of the State Council, and Sinochem Group and ChemChina will be integrated into the new company as a whole. The new company will cover life sciences, materials science, basic chemicals, environmental sciences, rubber tires, machinery and equipment, urban operations, industrial finance and other business fields. Sinochem Group stated that the new company will do a good job in business collaboration and management improvement, gather innovative resources, open up the industrial chain, and enhance industry competitiveness, especially in application fields such as construction, transportation, and new generation information industries, break through key material bottlenecks, and provide comprehensive solutions for chemical materials. Sinochem Group also stated that this joint reorganization will better integrate resources and exert synergy effects, build a world-class comprehensive chemical enterprise, and promote the high-quality development of China's chemical industry. Public data shows that as of the end of December 2019, Sinochem Group’s total assets reached 564.3 billion yuan, and ChemChina’s total assets were 843.9 billion yuan. Based on this calculation, after the merger of the two companies, the total assets will exceed 1.4 trillion yuan. There has been talk in the industry about the merger of informatization and informatization for a long time. In June 2018, ChemChina Chairman Ren Jianxin announced his retirement, and Sinochem Group Chairman Ning Gaoning began to concurrently serve as Chairman and Party Secretary of ChemChina. The industry believes that this means that the "two industries" will be merged. However, there has been no official statement on the matter. In September 2019, at the meeting between the State-owned Assets Supervision and Administration Commission and the Shanghai Municipal Government * * Deepen cooperation and jointly promote implementation * * At the strategic signing ceremony, Ning Gaoning said that Sinochem Group and ChemChina are vigorously promoting cooperation in industrialization and industrialization, which will effectively improve China's innovation capabilities and industrial status in the global energy, chemical and agricultural fields. At that time, Ning Gaoning said that the two parties were "cooperating" rather than "merging." On September 2, 2020, at a meeting between entrepreneur representatives and Chinese and foreign journalists held by the State Council Information Office, Ning Gaoning, Chairman of Sinochem Group and Chairman of ChemChina, said that the merger and reorganization of ChemChina and Sinochem Group is in progress, and the merger of the two companies is very necessary. This is the first time that Ning Gaoning has publicly expressed his position on the merger of "two informatizations". In fact, the merger of "two industrializations" last year has entered the substantive operation stage, and the first one to be integrated is the agrochemical sector. At present, this sector has been integrated. In early January last year, both Sinochem Group and ChemChina announced that they would inject their respective agrochemical sector businesses into the newly established Syngenta Group. The group will include Syngenta Co., Ltd. (Syngenta.AG, hereinafter referred to as Syngenta), ADAMA (000553.SZ), Yangnong Chemical (600486.SH) and Sinofert ( 00297.HK ) and other core assets. Subsequently, listed companies such as Sinochem International (600500.SH) and Adisseo (600299.SH) announced that Sinochem Group is planning a strategic reorganization with ChemChina. The specific content of the restructuring plan and its implementation are still subject to relevant approval and regulatory procedures. On June 18 last year, Syngenta Group, the world's largest agrochemical company, announced its official establishment, marking the completion of the merger of the "two informatization" agrochemical sectors. Sinochem Group was founded in 1950, formerly known as China National Chemical Import and Export Corporation. It is currently a leading integrated operator of petroleum and chemical industries, agricultural inputs and modern agricultural services in China, and has strong influence in urban development operations and non-bank financial fields. Sinochem Group has established five major business divisions: energy, chemical industry, agriculture, real estate and finance. It conducts professional operations for more than 300 operating institutions at home and abroad. It also controls Sinochem International, Sinochem Fertilizer ( 00297.HK ), China Jinmao ( 00817.HK ) and many other listed companies. ChemChina is China's largest chemical company, ranking 164th among the world's top 500 companies. The company has six major business sectors: new chemical materials, basic chemicals, petroleum processing, agricultural chemicals, tire rubber and chemical equipment. It owns seven professional companies and controls nine listed companies. Content source: interface news