Restructuring Shunt In The Practice And Exploration Of The Petrochemical Enterprises

China Petrochemical Corporation (Sinopec Group) is a super-large petroleum and petrochemical group incorporated in July 1998 on the basis of the former China Petrochemical Corporation. It is a national company designated by the State to function as an investment organization, in which the State holds the controlling share.As an investor, Sinopec Group exercises investor rights over related state assets owned by its full subsidiaries, controlled companies and share-holding companies. These rights include receiving returns from assets, major decision-making and appointing or recommending management teams. It conducts operation, management and supervision over state assets and shoulders the corresponding responsibilities of maintaining and increasing the value of state assets.Sinopec Group continued to deepen the internal reforms since 2002, and pushed through corporate leaning with tangible results. The article introduces the reason,the denotation,the method and the impact of the internal reforms in Sinopec Group.