China's Sinopec Establishes Four Business Units in Major Overhaul
China's state-owned oil giant Sinopec is launching a major internal restructuring as the world's largest refiner seeks to improve efficiency and profitability amid persistent weakness in the country's oil and petrochemical demand.
中国国有石油巨头中国石化正启动一项重大的内部架构重组。在中国石油石化行业持续疲软之际，作为全球最大的炼油企业，该公司希望提高效率和盈利能力。
Under the restructuring, Sinopec has established four business units: oil, gas and new energy; refining, chemicals and new materials; finance and strategic emerging businesses; and customers and supply chain, Reuters reported. Sinopec's Beijing headquarters began operating under the new structure this month, with the broader reorganization expected to be completed by the end of the year.
7月15日，据路透社报道，中国石化设立四大事业部，分别是石油、天然气和新能源；炼油、化工和新材料；金融和战略性新兴产业；客户和供应链。中国石化北京总部本月已开始按照新架构运营，更广泛的重组将于年底前完成。
The overhaul marks one of the largest reorganizations at a Chinese state-owned oil major in recent years.
这是近年来中国国有石油巨头实施的一次大规模组织架构调整。
In an article last month in the magazine Qizhi, Sinopec Chairman Hou Qijun wrote that Sinopec was "embarking on a full-scale second entrepreneurship" that promotes "quality growth" under a strategy centred on "innovation", "industry transformation and upgrade, securing resources and prioritising cost".
中国石化董事长侯启军上个月在《旗帜》杂志的一篇文章中写道，中国石化正“全面开启二次创业”，实施创新驱动、转型升级、资源保障、成本领先等战略，推进高质量发展。
The new supply chain segment combines Sinopec's vast marketing teams of fuel, natural gas and chemicals and international trading vehicle Unipec, plus the stockpiling arm that serves as part of Beijing's emergency reserves.
路透报道称，新设立的供应链事业部整合了中国石化庞大的成品油、天然气和化工品的营销业务，以及国际贸易平台联合石化，还纳入了承担国家应急储备职能的储备业务部门。
The refining and chemicals unit merges the two operations to improve integration and place greater emphasis on higher-end new materials.
中国石化还将炼油与化工业务合并，以提升一体化水平，并更加注重高端新材料的发展。
The finance and strategic emerging businesses unit combines finance, leasing and insurance functions, and will focus on funding strategic initiatives such as batteries, hydrogen, carbon capture and artificial intelligence.
金融和战略新兴产业部门整合了金融、租赁和保险等业务职能，并将重点支持电池、氢能、碳捕获和人工智能等战略领域发展。
"This is not about laying off people, but reorganising into functional segments that focus on delivering results. Each will be given direct authority in human resources and remuneration schemes," a company official said.
一位公司员工表示：“这次改革不是为了裁员，而是按职能重新划分业务板块，更加注重经营成效。每个部门都将在人力资源和薪酬方案方面拥有直接权限。”
The restructuring is expected to result in fewer staff at its Beijing headquarters as hundreds of people relocate to business units.
据悉，此次重组将导致北京总部员工人数减少，数百名员工将被调往各个业务部门。
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