In the 1950s, serving the national basic industrial construction
The company was established in 1952, when it was in the early stage of the founding of the PRC, and China mainly imported complete sets of equipments from the former USSR and the Eastern European countries.From 1952 to 1960, Sinotech ****introduced more than 400 projects for the country, and the famous 156 complete sets of equipments were introduced by Sinotech, which laid an important foundation for the development of the industry of new China, especially for the heavy industry. From 1952 to 1960, Sinotech completed the import amount of 4,172.51 million U.S. dollars, and from 1954 to 1960, Sinotech completed the export settlement amount of 194,370,000 RMB.
1960s Committed to the introduction of large-scale technology and complete sets of equipments
In order to accelerate the construction speed, the focus of China's introduction of technology and equipments shifted to the capitalist countries; in June 1963, Sinotech, together with the industrial departments, firstly signed the contract on the first set of vinylon complete sets of equipments with Japan and later imported petroleum, chemical industry, metallurgy, mining, electronics and precision machinery from Japan, Western Europe and other 10 countries. Later, Sinotech imported from 10 countries including Japan, chemical industry, metallurgy, mining, electronics and precision machinery and other technologies and equipments***84 items, which improved China's industrial production capacity.Between 1961 and 1970, Sinotech completed the import amount of 756.84 million dollars.
The 1970s
The country's import of new technologies and complete sets of equipment was restored and developed. From 1972 to 1979, Sinotech *** introduced 367 projects for the country, including large-scale fertilizer equipment, large-scale chemical fiber equipment, petrochemical plants, data processing equipment, power generation equipment, coal mining units, oxygen production equipment, etc. From 1971 to 1980, Sinotech *** completed the import amount of 6.67286 billion US dollars. While contributing to the economic development and technological progress of the country, the company entered the stage of rapid growth and development.
In the 1980s, in line with the reform and opening up, the main business diversified
With the country entering into a new historical period of reform and opening up, the company obtained new development opportunities, and the import business shifted to mainly utilizing the loans from the World Bank and other international financial organizations and foreign governments for purchasing, with increasingly diversified business contents and modes, and the scale and fields expanding; the export business began to take off and formed the business of technology, complete sets of equipments and high value-added equipments. The export business has started and formed the business characteristics of technology, complete sets of equipments and high value-added electromechanical products, and has achieved a good profit. The company's management consciousness and level were improved. From 1981 to 1990, Sinotech ****completed the import amount of 21,526.53 million dollars and export amount of 119.06 million dollars, and in 1990, Sinotech ranked the 5th among the largest 500 trading enterprises in China.
In the 1990s
In the 1990s, Sinotech, facing the increasingly fierce market competition and increasingly complicated business environment, innovated continuously, made great efforts to open up, basically realized the transformation from an executive under the planned economy system to an operator under the market economy system, carried out the company's operation and management in accordance with the requirements of the market economy, and perfected its own operation concept, direction and target, and the company's The management level of the company has been further improved, the management means have been gradually modernized, and the company has entered into a period of diversified and prosperous development with "one industry as the mainstay and multiple operations" and "trade, industry and finance". From 1991 to 2000, Sinotech's imports amounted to 27,705.24 million US dollars and exports amounted to 1,883.96 million US dollars, which became the backbone business of Sinotech, and the economic benefits of the enterprise became the primary business target of Sinotech. From 1991 to 2000, Sinotech ranked 7th, 6th, 4th, 3rd, 3rd, 3rd, 4th, 10th, 4th and 8th among the largest 500 trading enterprises in China.
Since the new century
Since entering the 21st century, Sinotech has taken the initiative to meet the competition in the market, grasped the great historical development opportunity of China's accession to the WTO, reformed, innovated and forged ahead, and successfully realized the strategic transformation of the company's development. Absorbing the experience and essence of 50 years of Sinotech's engagement in foreign trade and economic cooperation, facing the brand-new market competition and unprecedented historical development opportunities, Sinotech is striving to be strong, striving for excellence and transforming itself into brand-new specialized business service fields such as project management and foreign trade consulting, etc. In March 2002, Sinotech carried out the strategic transformation and structural adjustment in accordance with the strategic requirements of the General Technology Group. As one of the profit centers of the Group, the main function of the reorganized Sinotech is to implement specialized operation in the business fields of electric power and energy, metallurgy and building materials, petroleum and chemical industry, environmental protection engineering, light industry, infrastructure, post and telecommunication and medical and health care in accordance with the requirements of specialization and intensive operation.