Sinopec gears up for WTO

Sinopec Chairman Li Yizhong discusses the company''s readiness ahead of China''s entry to the World Trade Organization, scheduled for January 2002

Sinopec Corp China Petroleum and Chemical Corporation, China's second largest integrated oil company, announced its results on August 27. The company, which last year carried out an initial public offering in Hong Kong, New York and London, saw its interim net profits for the six months ending June 30 this year rise to RMB9.58 billion $1.15 billion, an increase of 27.51% over the same period last year.

FA What do you think of the latest results

Li I think they are pretty healthy, although we clearly benefited from higher oil prices. However, the results also reflect the company's increase in turnover, which was mainly due to the company's expansion of its...

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