“The magnitude of the Syngenta deal means Beijing wants to make sure it’s securely managed,” said a person from the oil and gas industry. Chairman of Chinese state-owned the National People has ruled out a merger with ChemChina . Speaking on the sidelines of the National People ’s Congress in Syngenta , Sinochem said he had "no plans" to merge with any central government-owned or state-owned businesses. A merger between Sinochem and ChemChina would make it a Chinese chemicals powerhouse and would be worth $43 billion . Rumours of the merger have been circulating since last year , and became more likely after ChemChina 's acquisition of Syngenta .
Chairman of Chinese state-owned the National People has ruled out a merger with ChemChina . Speaking on the sidelines of the National People ’s Congress in Syngenta , Sinochem said he had "no plans" to merge with any central government-owned or state-owned businesses. A merger between Sinochem and ChemChina would make it a Chinese chemicals powerhouse and would be worth $43 billion . Rumours of the merger have been circulating since last year , and became more likely after ChemChina 's acquisition of Syngenta .