China Petrochemical Corporation (Sinopec for short) is a super-large petroleum and petrochemical enterprise group reorganized by the state on the basis of the former sinopec group in July 1998. It is a state-owned company wholly owned by the state, an institution authorized by the state to invest and a state holding company. The registered capital of the company is 23 16 billion yuan, the chairman of the board is the legal representative, and the headquarters is located in Beijing.