Yizheng Chemical Fibre Co., Ltd. (hereinafter referred to as Yizheng Chemical) is a holding company of Sinopec Corp. and also the largest production base of chemical fiber and chemical material in China. According to its production capacity in 2001, Yizheng Chemical is the 5th largest polyester manufacturer in the world.

Main equipment and technologies for PET and spinning was imported from Zimmer, AG in Germany and from Toyobo Co., Ltd. in Japan respectively. Phase 1 construction of the project was started in 1982, the first production unit was put into operation in Jan.1984, Phase 2 started in Jan.1985 and was completed in Oct.1990, resulting in PET production capacity of 500 thousand t/y. The total investment for Phase 3 is RMB3.67 billion, main equipment and technologies were imported respectively from countries as France, Germany, America, Japan and Italy. Phase 3 was started in Nov.1993 and completed in Sep.1995.

Yizheng Chemical Fibre Co., Ltd. was registered on December 31, 1993 and listed 1 billion H-Stock shares, 2 billion A-Stock shares and 4 billion new H-Stock shares respectively in HK United Exchange Co., Ltd. and Shanghai Stock Exchange in March of 1994, January and April of 1995.

Yizheng Chemical is mainly engaged in the produce and sales of polyester chips and polyester fibers and covers businesses in the produce and sales of chemical fibers and chemical products, the produce of auxiliary materials and textile machinery, the development of textile technology and technology service. Yizheng Chemical has introduced many advanced equipments and implemented many technological reform and innovation, thus our products had reached the internationally advanced textile technology at the end of 1990s and achieved ISO9001(2000)quality certificate.

By that time, being a national important production base of chemical fibre and its raw materials and with a capacity of 1,000,000 t/y in PET products, including 540,000 t/y in PET fibres, and 350,000 t/y in PTA.