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By Angeli Mehta2021-04-15T09:21:00+01:00 China’s chemicals giants will unite under a state-run holding company Chinese regulators have approved the long-anticipated merger of two of the country’s major state-run chemical groups, Sinochem and ChemChina. Together the refining and chemicals giant will have revenues of over $150 billion (£109 billion), and its leaders anticipate cutting costs to become more competitive. However, analysts don’t expect to see any big changes just yet. Source: © Reuters/Alamy Stock Photo ChemChina will rely on ‘cash rich’ SinoChem to help overcome its debt from recent expansion overseas ChemChina certainly needs Sinochem. It is heavily in debt, having paid $43 billion for Swiss agrochemicals business Syngenta in 2017. There are already ties between the two companies: last year, Sinochem merged its agricultural operations with Syngenta and Israel-based Adama (which ChemChina had bought in 2011). Reuters reported that ChemChina had to seek up

Laura zhaiWood mackenzieUs department of defenceFitch ratingsSyngenta groupChinese military companiesIsrael based adamaSalmon leeCommunist chinese militaryமரம் மெக்கன்சிஎங்களுக்கு துறை ஆஃப் பாதுகாப்புஃபிட்ச் ரேடிஂக்ஸ்சய்ங்கெண்ட குழுசீன இராணுவம் நிறுவனங்கள்சால்மன் லீகம்யூனிஸ்ட் சீன இராணுவம்