It is a state-owned enterprise. Established in 1994, Hengli Petrochemical Company is one of the largest petrochemical enterprises in China, mainly engaged in the production, sales and trade of petrochemical products. The predecessor of the company is Hengli Petrochemical Co., Ltd. of China Petrochemical Group, which was listed on the Shanghai Stock Exchange on 20 10, becoming the first private petrochemical enterprise listed on the A-share market in China.

Hengli Petrochemical carried out equity reform after listing, but it is still a part of state-owned enterprises.