In 2009, with the surging impact of global financial crisis upon real economy, there were substantial changes to the business environment for petroleum and petrochemical industries. Under the leadership of CPC Central Committee and the State Council and with the support from relevant ministries, Sinopec Group did good work in expanding the market, optimizing production plans, adjusting structure, enhancing cost control and increasing profitability. As a result, its production and operation in 2009 turned out better than expected.

In 2010, the Group will continue to make a good command of the overall situation in accordance with the scientific outlook of development and adopt a proactive approach towards the changing market environment. It will enlarge sales revenues by further expanding market and stimulating sales. It will strengthen safe production and articulation of production and sales in order to maintain reliable output of oil and gas. It will improve refining operation, strengthen restructuring and optimize resource allocation. Import and export will be managed in a flexible way. Principal business segments and secondary segments will be coordinated to complement each other. More efforts will be made to implement precision management, energy conservation, cost reduction and profitability increase so as to realize a sustainable development.