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A growth strategy for a Chinese state-owned enterprise: An interview with ChemChina's president
BlueStar, China’s first industrial-cleaning company, was transformed into the nation’s largest chemical conglomerate—ChemChina, with $17.4 billion (121.8 billion renminbi) in revenue—through more than 100 acquisitions of state-owned companies.ChemChina has expanded aggressively overseas by purchasing Adisseo, Qenos, and other companies to obtain technology, management expertise, capital, and access to markets.In an interview, Ren Jianxin, ChemChina’s president and the former president of BlueStar, discusses the expectations of the private-equity firm Blackstone, which invested $600 million in the company in 2007; the global challenges it faces; and its daunting dual role of creating both shareholder value and jobs.
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