Sinopec Group holds annual work conference

Sinopec Group held annual work conference in Beijing on January 24 to review work in 2015 and during the 12th Five-Year Plan period (2011-2015), to analyze the current situation and to make work arrangements in 2016 and during the 13th Five-Year Plan period (2016-2020). The conference required to further transform development concept, promote reform and innovation and focus on quality and efficiency improvement. We should transfer the mode and adjust the structure to achieve sustainable development with higher quality and efficiency. Wang Yupu, Chairman of Sinopec Group, made a report entitled “Transforming development concept, promoting reform and innovation and focusing on quality and efficiency improvement to realize mode transfer and structure adjustment” and an outline report on Sinopec’s 13th Five-Year Plan (2016-2020). Li Chunguang, President of Sinopec Corp., presided over the conference and expounded on the guideline for Sinopec’s 13th Five-year Plan.

Also present at the conference were top management of Sinopec Group including Zhang Jianhua, Wang Zhigang, Dai Houliang, Xu Bin, Liu Yun, Zhang Haichao, Jiao Fangzheng and Ma Yongsheng. Fu Chengyu, Outside Directors Ma Zhigeng and Ding Zhongzhi, and Liu Yi, Chairman of the board of supervisors accredited to the Group by the State Council were invited to attend the conference.

Wang Yupu reviewed the main work of Sinopec in 2015. They include striving for ensuring economic benefits, concentrating on 13th Five-Year Plan, strengthening "three basics" work (grass-roots construction, basic work and basic skill training), and governing the Party strictly.

Wang Yupu stressed that we would focus on doing the work in eight areas: The first is to try every way to increase benefit. The second is to promote the optimization and adjustment of industrial structure. The third to further deepen reform. The fourth is to accelerate innovation. The fifth is to advance governance according to law. The sixth is to consolidate "three basics" work. The seventh is to strengthen HSE work. The eighth is to strictly administer the Party.

During the 13th Five-Year Plan period, the improvement of development quality and efficiency is core target, and the mode transformation and structure adjustment are core tasks, Wang said. We must lead the shift of development way through the transformation of development concept, thereby to promote quality and efficiency improvement. We will further implement five development strategies of value guide, innovation drive, resources coordination, opening-up and cooperation and low carbon.

Information source:sinopec