On October 8, Sinochem Holdings and COSCO Shipping signed a strategic cooperation agreement. Mr. Frank Ning, Chairman of Sinochem Holdings, and Mr. Xu Lirong, Chairman of COSCO SHIPPING Group, witnessed the signing of the agreement. Mr. Li Fanrong, President of Sinochem Holdings, and Mr. Fu Gangfeng, President of COSCO SHIPPING, also attended the signing ceremony. Mr. Yang Shihao, vice president of Sinochem Holdings, and Mr. Huang Xiaowen, vice president of COSCO SHIPPING, signed the agreement. 

The signing will guarantee the security and stability of their industry and supply chain, promote industrial upgrading and help develop green innovation for both companies. Based on the agreement, both companies will make full use of their advantages for in-depth cooperation in industry chain management, shipping, supply chain cooperation, digital transformation, comprehensive real estate services, centralized procurement, carbon emission reduction and information exchange. The two companies will establish a long-term strategic partnership to provide better products and services and enhance hi-tech innovation, core competitiveness and sustainable development capacity.