China National Chemicals Import and Export Corporation is Set up on Mar 10, 1950

CRRC Corporation Limited (CRRC) wins the biggest order ever from a developed country on Mar 10, 2016. [Photo/sasac.gov.cn]

China National Chemicals Import and Export Corporation is set up on Mar 10, 1950

China National Chemicals Import and Export Corporation, predecessor of Sinochem Group Co., Ltd. , was set up on Mar 10, 1950 to boost the development of the country's production industry and adjust national and regional supply and demand in related goods.

The corporation, one of the country’s first state-owned foreign trade corporations, has imported a large number of much-needed materials such as rubber, chemical fertilizer and agricultural film.

After over 60 years’ development, the corporation developed into China’s biggest company integrating modern agricultural services and agricultural products such as chemical fertilizer, seeds and pesticides.

Currently, Sinochem Group Co., Ltd.  is on the Fortune Global 500 list as managing five areas, namely energy, chemical engineering, agriculture, real estate and finance.

SASAC is set up on Mar 10, 2003

The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) was set up on Mar 10, 2003.

The institutional reform of the State Council was approved at the third plenary meeting of the first session of the 10th National People's Congress (NPC) on Mar 10, 2003, establishing the State-owned Assets Supervision and Administration Commission of the State Council to offer guidance to Chinese central SOEs in reform and restructuring.

As an institution directly under the management of the State Council, SASAC performs investor's responsibilities and shoulders the responsibility of supervising the preservation and increment of the value of the State-owned assets of the supervised enterprises.

CRRC wins the bid of $1.31 billion for constructing 846 Chicago rail cars on Mar 10, 2016

CRRC won the bid of $1.31 billion for constructing 846 Chicago rail cars on Mar 10, 2016. It was the largest rail car export project that Chinese rail transit equipment companies have ever conducted and marked an important breakthrough for exporting home-made high-end equipment.

The project was also the biggest rail car purchase in Chicago history. After the launching of the project, CRRC was expected to build a factory for the general assembly of the cars, which would be the first manufacturing factory constructed in Chicago for that purpose in 35 years.