Fostering harmony through openness and sincerity
China is committed to promoting a new type of international relations, deepening and expanding global partnerships based on equality, openness, and cooperation, and broadening the convergence of interests with other countries. China pursues a mutually beneficial strategy of opening up and strives to contribute its share to building an open global economy that delivers greater benefits to all peoples.
—Guiding principles of the 20th CPC National Congress
We will strive for solid progress in high-quality Belt and Road cooperation. We will steadily advance cooperation on major projects and implement a number of "small and beautiful" projects to improve people's wellbeing. We will promote cooperation in fields such as digital development, green development, innovation, health, culture, tourism, and poverty reduction.
—Report on the Work of the Government 2024
Engaging in capacity-building cooperation for mutual benefits and shared development
Leveraging the momentum of economic globalization, Sinopec has accelerated its "Go Global" strategy and expanded multi-sector cooperation with BRI-participating countries through a broader vision and...
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Strengthening safety and environmental measures to establish a solid foundation for economic development
Sinopec consistently complies with the safety and environmental regulations and standards of its host countries, guided by the principle of "people-oriented, prevention-first, and safe development" for its...
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Creating local employment opportunities to promote exchanges and mutual understanding
With a global outlook, Sinopec prioritizes local recruitment in its host countries, strictly adhering to talent policies, continually optimizing its overseas employment system, increasing the proportion of...
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Promoting community co-building to strengthen people-to-people connections
Sinopec actively engages with local communities and supports economic development through localized procurement. The Company has prioritized meeting local needs, participated in infrastructure projects, supported...
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"The petrochemical industry is an important pillar of the national economy. I hope you will align with the Central Committee of the Communist Party of China's (CPC) vision for new industrialization, uphold the principles of green and intelligent development, work hard to achieve solid progress, and make new contributions to ensuring national energy security and advancing the high-quality development of the petrochemical industry".
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In recent years, 60% of newly discovered global oil and gas reserves have been found in deep strata, indicating significant resource potential. China's deep and ultra-deep oil and gas reserves total 67.1 billion tonnes of oil equivalent, accounting for 34% of the country's total oil and gas resources. As a result, deep and ultra-deep formations have become the main battlefields for major oil and gas discoveries in China, making deep-earth drilling a strategic scientific and technological challenge that must be addressed. In response, Sinopec has ramped up its efforts in deep oil and gas exploration and development. By closely aligning the progress of the Shendi Engineering Project with the new energy security strategy of "Four Revolutions and One Cooperation" (energy consumption revolution, energy supply revolution, energy technology revolution, and energy system revolution, along with international cooperation), the Company has achieved major breakthroughs in deep oil and gas enrichment theory and deep earth technology. It has also established large-scale production capacity, solidifying its position as a leading force in China's deep oil and gas industry.
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The refining and chemical industry is key to China's pursuit of carbon neutrality. Although the industry's energy consumption and raw material needs cannot be entirely met through electrification, green hydrogen—produced directly using renewable energy sources such as solar and wind power—serves as an alternative. With no greenhouse gases emitted during its production, green hydrogen is regarded as an important path for advancing green transformation within the sector. In accordance with its hydrogen-electricity integration strategy and green hydrogen initiatives for carbon reduction, Sinopec has been actively expanding wind and photovoltaic power generation by utilizing its refining and chemical bases. The Company has launched large-scale projects encompassing renewable energy generation, hydrogen production, storage, and utilization, aimed at promoting large-scale green development within the refining and chemical industry. Additionally, Sinopec has intensified its focus on green hydrogen applications in refining and chemicals, building new momentum to support its green development, ultimately achieving its carbon peaking and carbon neutrality goals.
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In response to evolving automotive energy demands and changing market dynamics, the Company has actively explored new approaches to gas station development. Establishing integrated energy service stations has become a strategic, forward-looking, and transformative industry trend, the core of which is "integration", focused on creating a diversified product and service ecosystem centered around "people, cars, and lifestyle".
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A country's strength lies in the strength of its youth, and a nation's future is promising only when its youth has a bright future. In recent years, the increasing prevalence of myopia among young people, with its early onset and severe impact, has raised serious concerns for their physical and mental health. General Secretary Xi Jinping has emphasized that " the entire society must take action to jointly protect children's vision and ensure they have a bright future".
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2023 marks the 10th anniversary of General Secretary Xi Jinping's proposal to jointly build the BRI. Over the past decade, as the BRI develops, Sinopec has aligned with global trends and upheld the principles of "joint consultation, joint construction, and shared benefits" to deepen international energy cooperation, forging strong, multifaceted, in-depth partnerships with BRI-participating countries and establishing a long-term, sustainable, and people-centered cooperation model. These efforts have contributed to the high-quality development of the BRI, achieving new milestones. In October 2023, Sinopec released its first Sinopec Corporate Social Responsibility Report on the 10th Anniversary of Supporting the Belt and Road Initiative, showcasing its commitment to promoting sustainable development in participating countries over the past decade.
