On May 20th afternoon, Mr. Wang Yong, Chairman of the State Assets Supervision and Administration Commission (SASAC), had a meeting with all the managers of central SOE businesses in Australia at the sideline of his Oceanic visit.
ChemChina President Ren Jianxin updated Chairman Wang on the business and operation of Qenos, a portfolio company of BlueStar, one of ChemChina’s major subsidiaries. Mr. Ren also had exchange of ideas and experience on overseas business management with China Ocean Shipping (Group) Company (COSCO), Shenhua Group Corporation and other 7 central SOEs with Australian offices or subsidiaries and shared his views and advice on overseas business management per SASAC requirement.
Chairman Wang concluded the meeting by acknowledging the great progress made by central SOEs in going global and shared his wishes and requirement for improving SOEs’ overseas business management.
On the morning of May 21st, Chairman Wang paid an inspection visit to the Botany site of Qenos in Sydney in the company of the SASAC delegation. He was briefed by Mr. Jonathan Clancy, CEO of Qenos, on the business operation before he made a field inspection of the site. Chairman Wang fully affirmed the progress achieved by BlueStar and Qenos since the acquisition, recognizing Qenos as a best example of Chinese investment in Australia. He also spoke highly of Qenos’ track-record HSE performance and operational and management excellence, expressing his support and wishes for future development of the company. As a conclusion, Mr. Jonathan Clancy stated on behalf of his management team about their commitment to contributing further to the success of ChemChina according to the SASAC requirement on building up world-class SOEs with international competitiveness.
Mr. Ren Jianming, vice President of ChemChina, and Robert Lu, President of BlueStar, were present at the meeting and visit.