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Founded on October 18, 1994, Zhejiang Hengyi Group Co., Ltd. is the first business group, which was established according to the modern enterprise system and approved by the provincial government after the implementation of the Company Law. Taking PTA (Purified Terephthalic Acid), polyester spinning and chemical fiber elasticizing as the pillar industry and involved in several fields like financial investment and import & export business, Hengyi is a large modern private enterprise with highly integrated industrial chain, the core business and secondary businesses of which make their respective advantages complementary to each other. As the largest supplier of textile raw materials in China, Hengyi now has total assets of about 20 billion Yuan and 5000 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 several years in a row. Hengyi people are persistent in its core business and enthustic at making it excellence.Setting the strategic objective of "consolidating,protruding and enhanching the comepetitive power of the core business",Hengyi keeps on increasing the chemical industry¡¯s supporting capacity and enriching its products form petrichemical chains.As the first who established polyester melting direct spinning and PTA projects among the private enterprises in China ,Hengyi,as well,is energetically constructing the caprolactam project,which is the largest capacity of single CPL line in the world as so far. The staff of Hengyi holds high the great banner of innovation, constantly strengthens the capacity for independent innovation, and consolidates the dominant position of the enterprise in the technical innovation system. In 2003, Hengyi set up the first state-level postdoctoral research workstation in China and was selected as the state-level enterprise technology center among the private chemical fiber enterprises in China. The project of self-developed large capacity polyester plant series won the second prize of the National Award for Science and Technology Progress. Hengyi was awarded as the Model Chinese Textile Technical Innovation Enterprise and Zhejiang Management Innovation Model Enterprise. As a National Quality Management Advanced Unit, Hengyi carries out the clean production in an all-round way, makes great efforts to boost the refined management and improves the quality unremittingly during the self-development and establishment. The leading product ¡°Hengyi¡± polyester filament yarn has won the title of Famous Chinese Brand and listed as National Inspection Free Product.