SINOPEC Wins "2013 Global Competitiveness Brands - Top 10 from China" for the Fourth Consecutive Year

Oct 17, 2013, 10:00 ET from IDG China

BOSTON, Oct. 17, 2013 /PRNewswire/ -- The 2013 Global Competitiveness and Sustaining Company Growth Event and the "2013 Global Competitiveness Brands – Top 10 from China" were held on October 16, in Boston, United States. This is the fourth consecutive year since 2009 that Sinopec has won the "2013 Global Competitiveness Brands - Top 10 from China" award. In the same competition, Sinopec was also awarded "Most Sustainably Competitive Brand".

The "2013 Global Competitiveness Brands - Top 10 from China" has successfully been held over the past three years. The award-winning company needs to go through various stages of selection, including a public vote via an online system, evaluations by third-party research institutions, and a final review made by a jury panel. As the elite representatives of sustainability and global competitiveness from China, ten companies including China Mobile, Industrial and Commercial Bank of China (ICBC), Baidu, Huawei, and China Petrochemical Corporation (Sinopec) received the trophy. The theme of the event was organized by International Data Group (IDG). This year, the theme of the event was "Future Marketing – the focus for brand growth". Focusing on brand competitiveness, overseas competitiveness and market competitiveness, the event took the brands' marketing capabilities in generating opportunities for growth as an important standard for assessment, and in forming a comprehensive understanding of the deep-seated development problems in various parts of the globe.

For Chinese enterprises, in order to fully achieve sustainable development and comprehensively improve global competitiveness, the focus should be on both enhancing commercial strength as well as brand competitiveness. How to increase energy efficiency and achieve sustainable development for the economy and society, are the key challenges facing the Chinese economy. As the advocate and leader in China's green and low carbon transition, Sinopec has always adhered to the principles behind the new path of industrialization, including high-technology, low-resources consumption, and less environmental pollution. It has also been constantly improving its brand core competitiveness and sustainable development capacity through its changing development model. Thus, Sinopec's increasing brand value has provided support to the construction of China's economy, the development of related industries, and secured energy supply and high quality services for the country's "the basic necessities of life". Sinopec launched the "Clean Water and Blue Sky Initiative" in 2013 and is planning to invest 23 billion RMB over the period of 2013-2015 for the environment-friendly treatment of existing production facilities.

At the same time, as the pioneer in internationalization among Chinese enterprises, Sinopec has in recent years been actively implementing its internationalization strategy, and has proactively participated and played an active role on behalf of Chinese enterprise in energy development issues of global social concern. Since joining the UN Global Compact in 2004, Sinopec has acted as the China Network Chairman for the 2004 term and has been dedicated to seeking a balance between development and environmental protection, and has exerted a positive influence in the international community in collaboration with other members. At present, Sinopec is present in 55 countries and regions overseas for oil and gas exploration, overseas investment, engineering technology service construction, and international trade. It strives to seek a return on investment as well as economic and social growth of the local communities. In 2012, Sinopec's foreign assets to total assets ratio hit 36.5% and overseas revenue accounted for 31.6% of the Group's total income. Sinopec ranked No. 4 in the 2013 Fortune 500 List, with annual revenue of US$428.167 billion, and is still the top ranked Asian company on the list. In one generation, Sinopec has achieved what the West took a hundred years to do.

Sinopec's Chairman Mr FU Chengyu said, "Global competitiveness increasingly underscores the equal importance of commercial and brand strength. Sinopec will focus on building brand competitiveness and as the most respected Chinese company, will play an increasingly important role in the sustainable socio-economic development of China and the world's energy industry."

The important criterion is the new growth opportunities to enterprises as a result of future Brand Competitiveness in marketing. It aims to fully recognize inherent issues in industries all over the world, investigate growth in new global structures.

About the Award:

The "2013 Global Competitiveness Brands – China Top 10" has been successfully organized by International Data Group (IDG) over the past three years. Themed as "The future of marketing: focusing on brand growth", this year's event involved nine months of intense preparations, including comprehensive data analysis, public online voting, and professional assessment of 35 branded Chinese enterprises. The selection criteria were based on seven dimensions of competition including enterprise, responsibility, brand, technology, market, product, and overseas competitiveness. It was a fair and open selection process; the winner was selected through an online voting system that was open to the public and the contest questionnaires provided by applicants and third-party firms were thoroughly assessed. The final evaluation was made by a selection committee. We measure the new growth opportunities brought by the future brand marketing competitiveness as the important judging standard, with the aim to fully recognize the inherent problems in all sectors around the world and to explore the new growth opportunities in the new global framework. Ten companies including Sinopec, ICBC (the Industrial and Commercial Bank of China), China Construction Bank, China Life Insurance, China Mobile, Huawei, Haier, Tencent, BOE Technology, and Baidu won awards. In this competition, Sinopec also won the single prize of "Most Sustainable Competitive Brand" while BOE Technology Group won the single prize of "Most Innovative Competitive Brand".

About Sinopec:

Sinopec is one of the largest integrated energy and chemical companies in China. Its principal operations include petroleum and natural gas exploration and production, petroleum product refining and sales, chemical product production and sales, petroleum and petrochemical engineering services, international trading and technology and information research and development. Sinopec Group is Asia's largest petroleum refiner, the second largest refiner in the world, and the world's fourth largest producer of ethylene. Sinopec has over 30,000 gas stations, ranking third in the world in terms of scale. As a member of the UN Global Compact, Sinopec has actively promoted green and low-carbon development in China by relying on scientific and technological innovation to promote the development of clean energy production and new energy and providing a full range of services for the people's everyday needs. Sinopec ranked fourth in the Fortune Global 500 in 2013. Sinopec listed in Hong Kong, New York, London and Shanghai and issued H shares and A shares in October 2000 and August 2001, respectively.

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