Beijing, December 29th 2020, Sinopec Capital announced its investment in Zhejiang Hisun Biomaterials Co., Ltd. (Hisun Biomaterials) and built its presence in high-end PLA degradable materials.

With the global environment faced with increasingly severe pollution, the plastic limit has been debuted in a succession of countries in recent years, which opened up new vistas for biodegradable plastics. Polylactic acid, or PLA, holds the largest global market share of degradable plastics. Hisun Biomaterials represents the flagship company engaged in PLA industrialization with strong expertise in both technology and production. 

 
In July 2019, Sinopec joined AEPW (Alliance of End Plastic Waste) as the first Chinese member. Guided by green growth philosophy, Sinopec has been committed to address plastic waste and explore the road map in circular economy. In its annual work conference, Sinopec Group has recently launched the Development Strategy in Building the World-Leading Company. The investment of Sinopec Capital in Hisun Biomaterials hallmarks the essential practice in alignment with Sinopec's vision of “building a world-leading clean energy and chemical company”and its industrial pattern of “One Foundation, Two Wings and Three Growth Poles”. The move also embraces the green growth and clean development strategy of Sinopec Group, and the Environment, Social and Governance (ESG) philosophy of Sinopec Capital, creating synergy of financial investment with industry, and contributing to another big step of Sinopec in high-end new materials.

Since its establishment in July 2018, Sinopec Capital has been focusing on five new areas, including new energy, new materials, advanced smart manufacturing, energy conservation and environmental protection as well as big data and artificial intelligence. By far Sinopec Capital has entered into strategic investment cooperation with a number of partners and added value to the invested companies, some of which have been public listed in the capital market.