China okays long-planned merger of Sinochem and ChemChina

China okays long-planned merger of Sinochem and ChemChina

A man walks past the office building of Sinochem in Beijing, China February 21, 2017. REUTERS/Damir Sagolj - RC1A4AD9BAB0 Photo by Reuters

China’s State Council, the country’s cabinet, has approved a long proposed merger of Sinochem Group and China National Chemical Corp, or ChemChina, the Chinese state assets regulator said on Wednesday.