SABIC: Huge strides growing with China for more than 30 years

SABIC is a leading global diversified chemical company, with a focus on chemicals, commodity and high performance plastics, agri-nutrients and metals. Since it first took root in China in the 1980s, SABIC has implemented its firm commitment to expanding its business and driving innovation through practical actions.

2019 will mark the 70th anniversary of the founding of the People's Republic of China and will usher in a new round of reform and opening up. SABIC has been fortunate to witness and contribute to this great historical movement over the past 40 years.

"In SABIC's 2025 Strategy, China is regarded as a key growth engine for the company in the future. SABIC will continue to fully support the country's continuous deepening of reform and opening-up with its world-leading technical strength, the pioneering spirit of innovation and sense of responsibility for society," said SABIC Vice-Chairman and CEO Yousef Al-Benyan.

Deepening the China-rooted localization

Upon entering the market in the 1980s, SABIC started its localized development in China, riding the tide of the reform and opening-up policy. And as China has promised to deepen its reform and openingup, the company has become even more determined to deepen its China-rooted localization.

Through an expanding cooperation network with local enterprises and institutes, SABIC has created considerable value for China and the global petrochemical industry as a whole. In 2018, SABIC signed an investment memorandum of understanding with Fujian provincial government for a world-scale megapetrochemical project. SABIC is also making excellent progress with China Petroleum and Chemical Corp or Sinopec, in working together on new mega investment for its joint venture Sinopec SABIC Tianjin Petrochemical Co - a world-class petrochemical complex in Tianjin.

In addition to participating in China's most pre-eminent platforms and expos, such as China Development Forum, Boao Forum for Asia, Chinaplas and China International Import Expo, SABIC also strives to cultivate local talent, who are seen as the company's valuable assets. From 2011 to 2019, SABIC has been awarded Top Employer certification in China for nine consecutive years.

With the rapid expansion of its footprint in China, SABIC has established sites in Shanghai, Guangzhou and Chongqing, with operations in 14 cities and more than 1,500 employees, China has become one of SABIC's most important strategic markets in the world. In the first half of 2018, the added value and profit of the country's petrochemical industry increased by 3.6 and 29.4 percent respectively, while SABIC's revenue in the market accounted for about 20 percent of its global revenue.

Looking ahead and focusing on China's sustainable future

Technological innovation and localized research and development are the driving forces behind SABIC's contribution to China's economic transformation and lay a solid foundation for SABIC's focus on sustainability and China's sustainable future.

Sustainability is one of the core elements of SABIC's 2025 Strategy. As a pioneer in the chemical industry, SABIC has launched a series of innovative solutions in the packaging, transportation and new energy markets. These include the world's first International Sustainability Carbon Certification-certified circular polymers from mixed-plastic waste, the world's largest LEXAN polycarbonate rear quarter window and phthalate-free polypropylene fiber, adopting a customized market strategy to quickly catch market trends and effectively meet the needs of its clients.

Meanwhile, SABIC also actively organizes and participates in a variety of food safety-related seminars, summits and symposiums and supports and assists in reviewing various standards drafted by the National Health Commission. Early this year, SABIC became a founding member of the Alliance to End Plastic Waste with the mission of advancing solutions to help to reduce mismanaged plastic waste.

As a globally responsible company, SABIC has a complete set of Association of International Chemical Manufacturers-approved practices that can effectively help China to achieve sustainable development. In June 2017, SABIC was presented with the AICM Responsible Care Chairman Award in recognition of the company's leadership, innovation and contribution to China's chemical industry and the Chinese public.

Illuminating an inclusive future with commitment to CSR

While vigorously expanding its business, promoting investment in science and technology innovation and supporting sustainable development, SABIC also actively fulfills its role in Corporate Social Responsibility and spreads the concept of inclusiveness and sustainability.

SABIC organizes an ongoing series of CSR activities including its "Lights of Our Future" and "Back to School" programs, as well as providing disaster relief and rehabilitation in China. In addition, SABIC has long fulfilled its corporate citizenship commitments in China and actively promoted employee volunteer and charity assistance activities, including supporting the Hope Primary School project for the Wenchuan earthquake-stricken areas and rebuilding homes in the wake of the Ya'an earthquake in 2013.

These CSR practices won SABIC the 2018 award for "Enterprise with the Best Social Responsibility", highlighting SABIC's comprehensive, meticulous and in-depth efforts to help China to achieve inclusive growth and sustainable development from the perspective of corporate citizenship.

Ensuring the future with Chemistry that Matters

Amid the 70th anniversary of the founding of the People's Republic of China, SABIC is also taking a new attitude to meet challenges and look to the future. China's commitment on continuous openness and innovation aligns with SABIC's 2025 Strategy. Adhering to Chemistry that Matters, expanding investment, strengthening market-driven development, and promoting technological innovation will guide SABIC's development in China moving forward.

SABIC is committed to making itself a local company rooted in China. In 2018, the State Council approved the petrochemical industry layout plan that further promotes the high-quality development for both domestic and foreign-funded enterprises. While China has implemented a series of measures to expand opening-up and optimize the business environment, SABIC will continuously increase its investment in China and support China's Belt and Road Initiative and "Saudi Vision 2030", to strengthen regional cooperation and enhance China-Saudi Arabia economic relations.

Entering a new era, China's economic transformation is developing new growth drivers. SABIC will take advantage of this situation, seeking opportunities that promote reform and opening-up to achieve new breakthroughs at a new starting point.

Guided by the corporate purpose Chemistry that Matters, SABIC is already actively participating in China's new round of reform and opening-up, and will further help China to achieve global, sustainable and inclusive growth.

(China Daily 03/28/2019 page15)