MCC and Sinopec have already engaged in a number of joint ventures in the petrochemical field and in  a series of technology alliances. For example, in the field of polypropylene compounds for automotive use, MCC and Sinopec have formed a joint venture for more than 10 years. Recently, the two companies have conducted preparations for the establishment of a new joint venture company to produce bisphenol-A and polycarbonate.

The partnership resulting from the new agreement will cover joint research, project tie-ups, raw material and finished product supplies, engineering, logistics, technological information exchanges and human resource exchange.

In addition, both companies say they are actively engaged in reduction of CO₂ emissions and effective use of CO₂, sustainable energy from organic photovoltaic modules, and other eco-friendly projects.

Through the utilization of this new, forward-looking strategic partnership covering a broad range of potential businesses, MCC and Sinopec can speed up their expansion of business and shift to higher value-added fields. The two companies expect to use this new business model to contribute to the growth of the chemicals industry throughout Asia.