Sinopec Received “Global Competitiveness Brands Top 10 From China” Award for the Sixth Year in a Row

November 7, 2015 | By Business Wire News

SAN FRANCISCO

The 2015 Sustaining Company Growth and Global Competitiveness Forum and the awarding ceremony of the 2015 Global Competitiveness Brands Top 10 from China took place in San Francisco today. Sinopec entered the Top 10 list for the sixth time in a row since the competition was initiated in 2009, and received the single award the Most Sustainably Competitive Brand.

The award competition and the forum are organized by International Data Group (IDG). The Top 10 brands have survived online voting, analysis of authoritative data and judge panel assessment, and were finally selected out of a pool of 35 candidates. Other winning companies include Huawei, ZTE, Tencent, Alibaba, etc.

This year’s event under the theme “Shaping the New Landscape of ‘Internet Plus’ Brands” stresses three aspects of a brand – the branding competitiveness, overseas competitiveness and market competitiveness, seeking to explore how opportunities and challenges that emerge with the rise of the internet can be leveraged to create new growth for business branding and marketing.

“As the world has stepped into the era of ‘Internet Plus’, innovation of the information technology is impacting and constantly changing people’s think-pattern and lifestyle. It is an inevitable trend from companies around the world to transform their branding strategy and build new brand structures. As the second ranking company in the Fortune Global 500 list, it is a must for Sinopec to embrace the Internet technology, make best use of a new round of technological revolution and industrial revolution, and develop business service models in diversified formats using new technologies such as the internet of things, cloud computing and big data. In this way we will be able to improve the competitiveness and value of our brand, and offer better services for people and the society,” said Chen Weisong from the Publicity Department of Sinopec.

Business models of traditional industries are transformed and optimized. The modern technology, especially the high-speed development of the Internet technology, has re-defined our perception, lifestyle and mindset. The company started to take the Internet thinking in 2014, and has entered strategic partnerships with giant web-based companies such as Tencent and Ali to employ itself in the O2O area. By proactively leveraging the information technology to transform and optimize the business model of traditional industries, Sinopec solidifies a sustainable growth.

Overseas business thrives. As a pioneer Chinese company going out, over the years Sinopec captured different opportunities to push forward its overseas strategy. Sinopec proactively participated in the global competition, by conducting mergers and acquisitions and optimizing the layout of its resources. Today, Sinopec has expanded business to 70 countries and regions with six major investment geographies – Asia-Pacific, Middle East, Africa, Russia-Central Asia, South America and North America, covering business scope from oil and gas exploration and development to engineering technology service, from oil refining and chemical industry investment to international trade. Sinopec has more than 51,000 overseas employees and 322 overseas offices located in 51 countries, with its overseas assets accounting for 38% of the total assets, and about 31% revenue coming from overseas markets.

Sinopec’s efforts received authoritative recognition. Sinopec has won the Asia Pacific SABRE Award in the category of CSR; its CSR initiative was also selected as one of the 40 Best Public Relations Campaigns in the World. Sinopec has also won the 2015 Best Overseas Image Award, and was selected as one of the Top 20 Chinese Enterprises with the Best Overseas Image.

As the leading Chinese company going global, Sinopec in recent years paid great efforts in implementing the globalization strategy, part of which is to positively take part in addressing the globally concerned energy issues on behalf of peer Chinese companies. In 2004, Sinopec joined the United Nations Global Compact and assumed the rotating presidency of the Global Compact China Network. Sinopec also joined hands with other Chinese companies to devote itself to seeking a balance between business development and environmental protection, and played important roles to influence the international community to find solutions to the climate change.