On July 28, Sinopec held its 2025 mid-year work conference in Beijing. The meeting aimed to implement Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, thoroughly study the guiding principles of the 20th National Congress and recent plenums, and align closely with President Xi’s key instructions during his inspections of Shengli Oilfield and Jiujiang Petrochemical. It also reviewed performance from the first half of the year, assessed current challenges, and laid out key tasks for the second half of the year and future development, mobilizing employees to ensure a strong conclusion to the 14th Five-Year Plan and lay a solid foundation for the 15th Five-Year Plan.

Sinopec Group Chairman and Party Secretary Hou Qijun delivered the keynote speech titled “Win the 14th Five-Year Plan, Plan the 15th, and Unite for High-Quality Development.” General Manager Zhao Dong conveyed the spirit of recent central SOE seminars and presented the production and operations report. The meeting was attended by company leadership, external board members, retired experts, and academicians from the Chinese Academy of Sciences and Engineering.

First-Half Achievements:
Despite complex external pressures, Sinopec made notable progress in various aspects:

• Strengthened industrial and supply chain resilience through steady growth.

• Enhanced core competitiveness by promoting transformation and innovation.

• Deepened reform and improved governance for long-term stability.

• Improved political and organizational climate through stricter Party leadership.

Key Tasks for Second Half of 2025:
Hou emphasized that the latter half of 2025 is critical to concluding the 14th Five-Year Plan and preparing for the 15th. He outlined key priorities:

• Uphold goals set at the year’s start and address findings from central audits and inspections.

• Strengthen performance in production, innovation, transformation, reform, and Party-building to boost profitability and efficiency.

• Secure resource supply as a strategic priority and enhance marketing effectiveness with a customer-centric approach.

• Control costs rigidly, tackle losses head-on, and improve risk management to prevent systemic failures.

Vision for the 15th Five-Year Plan:
Hou Qijun urged proactive planning to navigate uncertainties. The 15th Five-Year period will be pivotal for China’s modernization and Sinopec’s transition to advanced productivity. He emphasized:

• Align with national strategies and President Xi’s instructions.

• Stick to stability-first principles while fostering new growth engines.

• Embrace systems thinking and global outlook in planning.

• Prioritize innovation, move away from scale-driven expansion, and pursue tech-led smart growth.

• Formulate practical, evidence-based development goals.

Strategic Focus Areas:

• Industrial Upgrade: Optimize layout, rejuvenate traditional sectors, and scale emerging industries.

• Organizational Reform: Enhance governance and efficiency through specialization, market orientation, integration, and digital empowerment.

• Tech-Industry Synergy: Drive transformation through core technological breakthroughs and equipment innovations.

• Digital Transformation: Leverage AI and next-gen IT to build smart operations, intelligent manufacturing, digital services, and integrated finance.

• Green Development: Advance carbon peaking strategies and build a sustainable, low-carbon industrial chain.

Party Leadership:
High-quality Party-building is deemed essential to lead high-quality development. The meeting called for strengthening political awareness, nurturing capable leadership, building resilient grassroots units, and fostering a clean and upright political environment.

Zhao Dong reported on 2024’s performance assessments and stressed the difficulty and urgency of tasks ahead. He called for resolute action in optimizing operations, expanding markets, accelerating industrial transformation, deepening reforms, and securing risk baselines to ensure full-year targets are met and lay a strong start for the 15th Five-Year Plan.

Executives from headquarters, subsidiaries, overseas units, and supervisory bodies attended the conference across main and sub-venues.