Premier stresses reform, competitiveness of new State-owned chemical company

Premier Li Keqiang, also member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, said that the reorganization and establishment of Sinochem Holding Co Ltd is important in optimizing the structure and layout of State-owned businesses, supporting modern agriculture, and making the chemical industry more competitive, in his instruction to the company's launch conference.

He called on the company to advance reorganization in solid steps, deepen reform, strengthen international cooperation, and spearhead development of the chemical industry.

Meanwhile, the Premier said, it should strive to make technological breakthroughs, innovate management and operations, enhance operation quality and comprehensive competitiveness, and make new contributions to stable industrial and supply chains and sustainable development of the economy and society.

State Councilor Wang Yong addressed the conference. He pressed for sound reorganization of the company and further efforts to promote high-quality development of China's agriculture and chemical industry to eventually play a more significant role.

Reorganization and establishment of the company is a significant move to improve and adjust the layout of the State-owned sector, and make State-owned capital and enterprises stronger, better, and bigger, Wang said.

He stressed integrating resource elements, accelerating development of seed industries, modern agriculture, and comprehensive chemicals, and enhancing breakthroughs in core technologies.

More work should be done to build up sources of original technologies and to be a leader of modern industry chains to ensure safe and stable industry and supply chains, Wang said.

He also urged the company to insist on deepening reform and opening-up, improve a market-oriented operation system, safeguard the red line of safety production, advance research in green and low-carbon technologies and their application to contribute to the peaking of carbon dioxide emissions and carbon neutrality.