To build a robust innovation engine in chemical science and technology
Sinochem International is constructing the "Innovation Triangle" composed of innovation subjects, innovation manners and innovation culture, and cutting no corners to promote innovation of products, business portfolios, technologies, business modes and management, the four-in-one innovation driving strategy with the aim to be a high-throughput innovation engine of chemical sciences and technologies.
KPIs in 2019
● RMB 968 million invested in scientific research, up 47% year-on-year
● 1,844 scientists and engineers
● 71 ongoing research projects
● 26 major science and technology awards
● 278 patents applied for, including 214 patents for invention
R&D Project Management System
Efforts are being made to unify and deepen the Phase-Gate R&D project management system created in 2017, improve the phasegate review procedures and enhance inter-department coordination and cooperation. The Phase Gate Management model has been applied, throughout the whole product development process, where effective achievements in R&D projects across each business division has been made.
Innovative Technology Evaluation Model
In order to strengthen technological reviews and improve technological evaluation systems for investment projects, Sinochem International created the "66 Model" in 2019. With such a model, we have laid down the technological evaluation system and evaluation process for the introduction of projects, to ensure the success of strategic R&D projects and actively cultivate new growth engines.