On Sept 11, the founding ceremony of ChemChina Oil and Gas Co was held, symbolizing efforts by ChemChina Petrochemical and the SASAC to speed up shareholder reform and company restructuring. It was also a strategic move for ChemChina Petrochemical to transform its development pattern. All legal representatives, executive partner representatives and authorized representatives attended the meeting.
At the ceremony, participants approved a report on the establishment of the new company, articles of incorporation (draft), as well as the board of directors and board of supervisors. Afterwards, the first session of the board directors’ and supervisors’ meetings were held.
The meeting participants were very excited about the new company. They said they would work together to differentiate management, effectively live up to responsibilities, and continue to accumulate experience to build a bright future.