Sinopec begins a new phase of development: Hou Qijun outlines an industrial strategy

This archived announcement has been translated automatically from Chinese. Names and technical wording may require editorial verification. Original artwork is preserved where applicable.

XinhuaNet Beijing, 27 January (Reporter Yang Jing) Sinopec Group, 26 January, Kyoto. According to the Party Secretary and Chairman of Petrochina Chemical Group Ltd., the promotion of quality development through secondary entrepreneurship was the subject and central task of the company's 15th period, with a focus on the construction of a new “one-base, two-wing, three-chain, four-chain” industry. He expressed the view that a “one-base” approach should be put in place to integrate oil, gas and other mineral resources and to create a new energy system that is complementary and integrated into development. A strong “two-wing” is needed to maintain a high level of groundfalls, high-end leaps, deepen the impetus for the restructuring and upgrading of refining industries, invest in improving the efficiency and overall competitiveness of the industrial chain, and consolidate market dominance across the board. A “triple chain” of excellence is needed to improve the marketing capacity and efficiency of the three major marketing capacities of finished oils, natural gas and chemical products, leading to an overall increase in the competitiveness of the entire industrial chain. There is a need to open up the “four new” and to actively develop new energy sources, to vigorously develop new materials, to accelerate the development of new industries and to organize the new track. The meeting summarized the results of the work carried out in 2025 and during the 14th Five-Year Plan, noting that Sinopec had made significant progress in high-quality development over the past five years, that business performance had been continuously evaluated at Level A, that industrial restructuring had taken a solid step forward and that critical core technologies had led to important breakthroughs. The meeting identified a broad approach to development in the 15-year period, emphasizing the importance of secondary entrepreneurship for high-quality development, following the “six-way” principle, and vigorously pursuing six major innovation-driven, transformational upgrading, resource security, market opening, cost-leading and open cooperation strategies to accelerate the construction of the world's leading modern energy and chemical companies. He stressed that 2026 was the first year of the 15th Five-Year Plan and the beginning of the company's full start of a new venture to start a second enterprise. The central task of high-quality development will be to focus on the six major battles of safety, environmental security, energy security, marketing, efficiency, innovation, transformation and empowerment, and to push deep ahead with the full-scale rule of the Party, ensuring that the Fifteenth Five-Fifteen is a good start and a good start.

In his production and operations report, Petrochina Chemical Group Ltd., the deputy secretary-general of the party group, Zhao Dong, noted the importance of doing business in 2026, firmly pursuing the three core responsibilities of “dividious” operations, making every effort to promote the success of the six strategies and the six offensives, and accelerating the construction of a new “one-base, two-wing, three-chain, four-chain” industry, in an effort to create better business performance.

Reproduced from Xinhuanet

English edition of the original Chinese page. Historical statements, dates and figures are retained as published.