Sinochem Corporation is a Chinese state-owned multinational conglomerate primarily engaged in the production and trading of chemicals and fertilizer and exploration and production of oil for civilian and military purposes. Its majority owned fertilizer subsidiary Sinofert is involved throughout the chain from production of the product and procurement on international markets to distribution and retail. Sinochem Group was founded in 1950. Its predecessor was China National Chemicals Import and Export Corporation, which was China's largest trading firm. Sinochem Group is the key state-owned enterprise under the supervision of State-owned Assets Supervision and Administration Commission of the State Council (SASAC). Sinochem's headquarter is located in Xicheng District, Beijing.