OREANDA-NEWS. January 20, 2015. With the approval of the State-owned Assets Supervision and Administration Commission of the State Council, Sinochem Group recently increased its paid-in capital by RMB28.5 billion, from RMB11.8 billion to RMB40.3 billion.

This marks the 6th time the group has increased its paid-in capital. At present, Sinochem Group has already gone through the formalities required by the State for changes in the property right of state-funded enterprises to have them registered, and will go through a series of other formalities required by law to have its articles of incorporation and its registration with industry and commerce and other authorities updated.

By increasing its paid-in capital, Sinochem Group has increased its overall ability to resist risks, which has provided so strong a safeguard that the group is now better positioned to achieve all its goals; moreover, thanks to its sustained effort over the years to introduce reforms and bring about a strategic transformation, Sinochem Group has achieved sustained, rapid, and healthy development for many years and created a favorable situation in which its various divisions and subsidiaries support each other as the group seeks well-balanced development by trying to diversify into a controlled number of new areas. As a result, Sinochem Group has been making improvements in market competitiveness and influence in the industry, thereby making active contributions to the national effort to maintain the value of and add value to the state-owned assets.