Sinopec

China Petroleum & Chemical Corporation (hereinafter referred to as "Sinopec") is a joint-stock enterprise with integrated upstream, midstream and downstream operations, prominent petroleum and petrochemical main business, a relatively complete sales network, and listings both domestically and overseas. Sinopec was established on February 25, 2000 by China Petrochemical Corporation (Sinopec Group) as a joint-stock enterprise through an exclusive sponsorship in accordance with the Company Law of the People's Republic of China. Sinopec successfully listed its 16.78 billion H-shares on the stock exchanges of Hong Kong, New York and London on October 18 and 19, 2000; and on August 8, 2001, 2.8 billion A-shares were successfully listed on the Shanghai Stock Exchange.

Sinopec is one of China's *largest integrated energy and chemical companies. It is mainly engaged in petroleum and natural gas exploration and development, pipeline transportation and sales; petroleum refining, petrochemical, coal chemical, chemical fiber and other chemical production, product sales, storage and transportation; import and export of petroleum, natural gas, petroleum products, petrochemical and other chemical products and other commodities and technologies, as well as agency import and export; and research, development and application of technology and information. Sinopec is a large oil and gas producer in China; its refining capacity ranks * in China; it has a comprehensive refined oil sales network in China and is China's *largest supplier of refined oil products; its ethylene production capacity ranks * in China, and it has built a relatively complete chemical product marketing network.

Sinopec has established a standardized corporate governance structure, and implements a divisional management system with centralized decision-making, tiered management and specialized operations. Sinopec currently has more than 100 wholly-owned subsidiaries, controlling and participating subsidiaries, branches, etc., including enterprises and units in oil and gas exploration and development, refining, chemicals, product sales, scientific research, and foreign trade. Its operating assets and main markets are concentrated in the eastern, southern and central regions of China, which are the *most developed and *most active economic areas.

Sinopec's *largest shareholder, China Petrochemical Corporation (Sinopec Group), is a super-large petroleum and petrochemical enterprise group restructured in 1998 by the state on the basis of the former China Petrochemical Corporation. It is a state-owned company funded by the state, an institution authorized by the state to invest, and a state-controlled company.