Founded on October 18, 1994, Zhejiang Hengyi Group Co., Ltd. is the pioneer of modern enterprise system in Zhejiang. It was the first business group under modern enterprise system to be approved by the provincial government upon the establishment of Company Law in China. Today, Hengyi is a large modern private enterprise with highly integrated industrial chain and complementing core and secondary businesses. Hengyi’s core businesses are PTA (Purified Terephthalic Acid) manufacturing, polyester spinning and chemical fiber elasticizing. The company is also involved in secondary businesses such as financial investment and international trading. As the largest supplier of textile raw material in China, Hengyi now has over 20 billion Yuan of total assets and 7000 employees. It has been ranked as one of the Top 500 Enterprises in China and one of the Top 100 Enterprises in Zhejiang province for many years.