Sinomach merges with China Hi-Tech Group

China's State Council approved the merger of China National Machinery Industry Corporation (Sinomach) and China Hi-Tech Group Corporation. The textile conglomerate becomes a wholly-owned subsidiary of Sinomach.

“The merger was in line with the country's aim to raise the competitiveness of SOEs, bringing technology and research capabilities to companies such as China Hi-Tech Group.”sinomach.com.cn

• 1 source
• sinomach.com.cnChina's Sinomach merges with State textile giantJul 5, 2017

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