News hint at $120bn-worth Sinochem-ChemChina corporate merger

According to news spread yesterday by Chinese media, China’s chemical titans Sinochem and ChemChina are likely to merge, thus creating a $120bn-worth company. It is important to note that such a merger could also be approved by Chinese government, since the groups are both state-owned. A potential merger of the two companies is welcomed by analysts, indeed it could solve a persistent production overcapacity problem which affects many branches of the chemical industry.

 

(Source: Shanghai Daily)