What is the relationship between China Petrochemical Finance Co., Ltd. and China Petrochemical?

China Petrochemical Finance Co., Ltd. is the parent company of China Petrochemical. China Petrochemical Finance Co., Ltd. (hereinafter referred to as the Company) is a non-bank financial institution established with the approval of the People's Bank of China. It was established on July 8, 20 14, 1988, registered in the State Administration for Industry and Commerce, and directly supervised by the China Banking Regulatory Commission. The company can handle all local and foreign currency businesses listed in the Measures for the Administration of Finance Companies of Enterprise Groups, including: handling financial and financing consulting, credit certification and related consulting and agency business for member units. Assist member companies to realize the receipt and payment of transaction funds. Insurance agency business. Provide guarantee for member units. Handle entrusted loans and entrusted investments between member units. Handle bill acceptance and discount for member companies. Handle internal transfer settlement between member companies and the corresponding settlement and liquidation plan design. Absorb deposits from member units. Handle loans and financial leasing for member units. Engage in interbank lending. Issue financial company bonds. Underwriting corporate bonds of member units. Equity investment of financial institutions. Securities investment. Consumer credit, buyer's credit and financial leasing of products of member units. In addition, as the first pilot unit of foreign exchange settlement and sale business of non-bank financial institutions in China, the company can handle foreign exchange settlement and sale and centralized receipt and payment of foreign exchange funds of member units of petrochemical group.