Company Profile

Sinopec Finance Co., Ltd. (hereinafter referred to as “SFC”) was founded as a non-bank financial institution, with the approval of the People's Bank of China, by the former China Petrochemical Corporation on July 8, 1988, for the purpose of group wise cash management centralization and efficiency. SFC’s business is mainly supervised by China Banking and Insurance Regulatory Commission, and also regulated by the People's Bank of China, State Administration of Foreign Exchange, China Securities Regulatory Commission and other relevant government agencies. It is a member of China Foreign Exchange Trade System (CFETS), National Interbank Market, China Central Depository & Clearing Co., Ltd. (CCDC), Shanghai Clearing House, National Association of Financial Market Institutional Investors, Shanghai Commercial Paper Exchange Corporation LTD., and it is a qualified investor among the first-batch of IPO pricing inquiring system by China Securities Regulatory Commission (CSRC). 

With the approval of China Banking and Insurance Regulatory Commission, SFC is mainly engaged in financial businesses in both Chinese and foreign currencies, including financial consultancy, credit assurance and related consulting and intermediary businesses, receipt and payment for member companies, approved insurance agency business, guarantee services on member companies, entrusted loans and investment among member companies, acceptance and discounting of bills for member companies, transfer and settlement among member companies and related settlement and clearance solutions, taking deposits from member companies, lending and financial leasing for member companies, undertaking interbank borrowing, issuing SFC financial bonds by approval, underwriting member companies’ corporate bonds, equity investment in financial institutions, investment in securities, and member companies’ consumer credit, buyer’s credit and financial leasing.

With the approval of the People's Bank of China, China Banking and Insurance Regulatory Commission, State Administration of Foreign Exchange, SFC could open, alter and cancel sub-accounts in banks for member companies, handle foreign exchange settlement and foreign exchange receipt and payment, provide cross-border two way RMB cash pool service, underwrite debt financing tools of non-financial enterprises, as well as conduct trial businesses that extend financial services value chain. 

SFC has two shareholders with a registered capital of RMB 18 billion (including US$ 60 million), of which China Petrochemical Corporation and China Petroleum & Chemical Corporation account for 51% and 49%, respectively. With the General Shareholders’ Meeting as its highest authority, SFC’s President is responsible for its operations management under the leadership of the Board of Directors. There are fourteen departments at SFC headquarters, namely Administration Office, Settlement Department, Capital and Planning Department, Credit Department, Bills Business Department, International Business Department, Investment Banking Department, Risk Control (Legal) Department, Finance and Accounting Department, IT Department, Internal Audit Department (Department of Discipline Inspection and Supervision), Financial R&D Department, Human Resources Department, Party Affairs and Employee Relations Department (Corporate Management Department). It has 9 branches in Shanghai, Nanjing, Guangzhou, Shandong, Zhengzhou, Wuhan, Chengdu, Xinjiang and Tianjin, covering Sinopec’s businesses in oil and gas exploration and production, refining, chemicals, pipeline transmission, marketing and sales of oil products and chemicals, oilfield service and refining & petrochemical engineering services, and servicing more than 500 member companies of Sinopec Group.

SFC has persistently adhered to the principle of servicing Sinopec’s core businesses and complied with regulations since the establishment. With the support from shareholders and member companies, SFC has fully capitalized its functions as the centralized management platform of Sinopec’s funds, the settlement platform and the fund-raising platform, continuously providing financial services to member companies. SFC has established a leading domestic cash pool, extensive service network and service functions, with its asset size, revenue, total profit, owner's equity and other indicators ranking in the first tier among finance companies in China for many consecutive years. SFC has won titles of the most innovative finance company, the best service finance company, the best spot-transaction member of the national interbank foreign exchange market, and top 100 participants of national interbank domestic currency trading, and some other awards for management innovation.