Sinochem, ChemChina merger gets approved by Chinese regulator

Sinochem, ChemChina merger gets approved by Chinese regulator Sinochem, ChemChina merger gets approved by Chinese regulator By China has approved merger of Sinochem Group and ChemChina Group. Sinochem Group and ChemChina Group have received approval to implement joint restructuring. The two companies will undertake a joint restructuring, becoming subsidiaries of a new holding company wholly owned by the SASAC, read a statement from Sinochem Group. This joint reorganisation will better integrate resources, build a world-class comprehensive chemical enterprise, and promote high-quality development of China's chemical industry, said Sinochem Group. After the reorganisation, the new company will cover fields including life…