On Apr. 2^nd, SNEC 2018 Financial Meetingwas held in the Company. Zhou Guo, general manager of SNEC, attended themeeting and made a speech. Zhou Renqing, chief accountant of SNEC, presidedover the meeting. Persons responsible for finance from all units, departmentsand project department attended the meeting.

At the meeting, the head of the Finance Departmentmade the 2018 financial work report. The report reviewed the financial work of2017, analyzed the financial situation the company are facing, put forward theoverall financial work requirements and objectives in 2018, and deployed thekey tasks of the financial work in 2018.

Zhou Renqing conveyed guiding spirit of Sinopec’sfinancial work, and made requirements on SNEC's financial work, that is, tocomprehend the achievements and problems in the financial work, and based onthe "3310" plan put forward in the worker's congress, to promote afirst-class financial work. He said that we must take implementing the superiorrequest as the primary task, ensuring benefit target as the core task,optimizing organizational mechanisms as the long-term task, sharing online thefinancial process as an urgent task, controlling any kind of risks as the keytask and building an efficient financial team as an important task. He saidthat we should intensify the concept of "large finance" and"large cost", focusing on the budget control, cost and expensereduction, fund balance and risk management, to achieve an overall improvementat work.

Zhou fully affirmed the achievements of SNEC financialsystem in 2017, and put forward three requirements: firstly, to fullyunderstand the situation faced by the company in the new era, to have greatconcern to the low quality and unbalanced development of the company, to facethe challenge of new industrial trend, and to comprehend the increasing risksin our business. Secondly, to take finance as a core in the management system,SNEC should turn its financial function from accounting to valuation, tostrengthen the risk prevention and control in the operation and to strengthenthe overall budget and cost control. And thirdly, to promote effectively thecomprehensive function of the financial system. Efforts should be made toimprove the quality of financial personnel, to strengthen the financialsystems, and to intensify the supervision and inspection against financialdisciplines.