IN BRIEF (Page 6)

Sinochem eyes pre-IPO stake sale

Sinochem Group, a State-owned oil and chemicals producer, has hired investment banks to arrange a stake sale to outside investors ahead of a potential initial public offering, according to sources. The Beijing-based company is seeking to raise funds and diversify its investor base, the sources said. Sinochem is planning a stock-market listing of the entire group in the medium to long term. Sinochem's move is in line with the government's goal of introducing private investors into State-owned enterprises, a process known as mixed-ownership reform, the sources said.

Unemployment drops in Japan