When ChemChina's chairman Ren Jianxin retired in July 2018, Ning was appointed chairman of ChemChina, while retaining his chairmanship of Sinochem Group. In September 2020 he confirmed that ChemChina and Sinochem Group were discussing a merger.
Ren Jianxin's resignation from ChemChina in July 2018 paved the way for Ning to assume leadership of both companies, including his continued role as chairman of Sinochem Group. In September 2020, it became clear that ChemChina and Sinochem Group were engaged in discussions about a potential merger.