China Petroleum & Chemical Corporation (Sinopec) is a listed company on domestic and international stock exchanges with integrated upstream, midstream and downstream operations, prominent core businesses and a comprehensive marketing network. The Company was set up on 25th February, 2000 by China Petrochemical Corporation (Sinopec Group) as the sole initiator, pursuant to the Company Law of the People's Republic of China. Sinopec issued 16.78 billion H shares in Hong Kong, New York and London on 18th and 19th October, 2000. The Company floated 2.8 billion A shares in Shanghai Stock Exchange on 16th July, 2001. As of end 2006, the Company’s total number of shares was 86.7 billion, of which 75.84% was held by the State through Sinopec Group, 19.35% by H share holders and 4.81% by investors at home.
The Sinopec business covers oil and gas exploration, development, production and marketing; oil refining; production and sales of petrochemicals, chemical fibers, chemical fertilizers and other chemical products; storage and pipeline transportation of crude oil and natural gas; import, export and import/export agency business of crude oil, natural gas, refined oil products, petrochemicals, chemicals, and other commodities and technologies; research, development and application of technology and information.