Sinopec Group announced on June 28 that its wholly-owned subsidiary Sinopec Chaoyang Risk Management Co., Ltd. (hereinafter referred to as "Chaoyang Company") was established in Shanghai. The company's general manager, deputy general manager, oil business department manager, chemical business department manager, financial integration department manager, compliance risk control department and other six senior executives and department head positions are now open for public recruitment.
Chaoyang Company was established exclusively by Sinopec Group with a capital contribution of 300 million yuan. It was engaged in risk management business with the record of China Futures Association. Chaoyang Company will meet the needs of price management and inventory management of Sinopec Group's main business and industry chain enterprises.
"Take advantage of the financial institutions belonging to the industrial group to provide professional, customized, timely and effective hedging, price locking, inventory management and other current combined services for the production and operation of the energy chemical industry, and strive to build a'commodity investment bank 'Based on the main business of the service group, help companies resolve abnormal price fluctuations, market turbulence and inventory impairment risks, grasp the pricing initiative, and lock in reasonable operating profits.'
At the 12th Lujiazui Forum held not long ago, high-level voices from the Chinese financial system intensively supported the open development of the futures and financial derivatives markets, and industry institutions were better and stronger, emphasizing that risk response should be in front of the market curve and support futures. Through open development, the market has improved its international service capabilities and enhanced the international pricing power of crude oil and other commodities.
