Shenyang Chemical Co., Ltd is a large-scale state-owned enterprise, founded mainly on Shenyang Chemical Co. Ltd. in 1995. In 1997, Shenyang Chemical Group is listed with issuance of A shares. After almost ten years of development, Shenyang Chemical Group has ranked among the 520 most important enterprises in China and 85 in Liaoning Province. It is also one of the five main industries supported by the Shenyang government. In April 2004, under the approval of the Shenyang government, Shenyang Chemical Group underwent capital restructuring with China National BlueStar (Group) Corporation (now China National Bluestar (Group) Co., Ltd.). After restructuring, Shenyang Chemical Industry Group has a total assets of 3.97 billion RMB and total liabilities 1.98 billion RMB, ratio of liabilities is 49.87%; total value of yearly sales is 3.1 billion and total profit and tax is 0.35 billion, total profit is 0.11 billion, there are 8, 195 registered workers in the Group. The main products of the Group include product oil, propylene, chlorinated paraffin, liquid chlorine, caustic soda, PVC paste resin, silica white, auto painting, radial tire segmented mold, and machine-made paper, etc. The quantity, quality and technology of these products are at the top list of domestic chemical industries, and some of them are on the international advanced level.
During its development, Shenyang Chemical Industry Group has settled its developing direction: to do large chemical industry project by paraffin waxing the current petroleum and gas resources, to combine petroleum industry and chloro-alkali industry, to extend the product chains, and to enhance the star products. According to this developing strategy, the Group carried out two critical large projects: 40 thousand tons /y propylene oxide and 30 thousand tons/y PVC paste resin. The two projects were put into production on 16 Aug.2004, which would add sales income near 850 million, profit 130 million, and tax 100 million. They would be the important growth point of the economic development of the Group. Meanwhile, Shenyang Chemical Industry Group promoted the 130 thousand acrylic acid and ester project, which was invested in 1.3 billion. On 16 Aug.2004, the Group signed the contract with Mitsubishi Chemical Company, Japan, about importing the critical technology and equipment, and commenced the project. When the project is completed in 2006, it will be a large combination chemical industry device, which is on the highest level of technology, and the largest unit device in China and increase sales income to 2 billion. It will lay solid foundation for China Blue Star Group to establish a large chemical industry base in Northeast China.