Environment & Society

csr
Ethics

Anti-corruption system

Integrity is the ethics that all the employees must follow. We have formulated the Code of Conduct, Implementation Rules of Gift Registration and other regulations. In 2018, the Company formulated Guidelines on Strengthening the Prevention and Control of Overseas Integrity Risk and Overseas Anti-Corruption Compliance Handbook, analysed overseas integrity risk based on relevant business, and formulate specific prevention and control measures. Meanwhile, the management and employees who are the CPC members must strictly abide by the regulations of the Communist Party of China, including CPC Code of Integrity and CPC Self-Discipline, Regulations on Disciplinary Measures, and CPC Accountability Regulations, etc.

Each year, employees at key positions of the Company will sign the Business Ethics Agreement, promising to abide by business ethics. The Company signs the Letters of Responsibility for Business Ethics with the contractors and suppliers, and if there is any violation, they will be disqualified which means no business transactions with Sinopec Corp.within three years. In 2018, 20 suppliers were penalised by the Company.

Each year, employees at key positions of the Company will sign the Business Ethics Agreement, promising to abide by business ethics. The Company signs the Letters of Responsibility for Business Ethics with the contractors and suppliers, and if there is any violation, they will be disqualified which means no business transactions with Sinopec Corp.within three years. In 2018, 20 suppliers were penalised by the Company.

Our self-discipline (excerpt from Business Ethics Agreement)

Do not claim or accept discounted fee, agency fee, commissions, cashes, securities, payment vouchers, and other valuables offered by Party B

Do not claim any expenses from Party B that should be paid by Party A or its individuals

Do not seek unjustified interests for spouses and/or children of Party A from Party B

Our position (excerpt from Letter to Suppliers by Sinopec Corp.)

Stick to openness, fairness, justness and integrity

Promote and will improve the construction of a market credit system, and cooperate with suppliers to create a healthy business ecosystem; forbid commercial bribery and dishonesty

Firmly fulfill social responsibilities

Our initiatives (excerpt from White Paper of EPEC E-commerce Platform Operation)

Uphold the philosophy of "quality first", "customers first" and "credit first"

Comply with the company’s integrity incentives and dishonesty punishment mechanism, and create an e-commerce operating environment based on honesty, self-discipline, trustworthiness and mutual trust

 

Transparent operation

In 2018, we strengthened Business Information Disclosure System to link with ERP, contract management, expense reimbursement, e-commerce platform, e-tendering platform, EPEC and engineering management system and other systems, to facilitate big data analysis on risk prevention. We developed clean risk prevention and control information modules, preliminarily realising the functions of risk position management, risk information management, risk self-check management, early warning information collection and treatment, risk reminder management, process authority allocation and so on, which enhanced our ability of integrity risk prevention and control. In 2018, a total of 3.739 million pieces of information were disclosed, and contracts involved amounted to USD 98.05 billion and RMB 1.4 trillion.

 

Enhancing anti-corruption awareness

We organise trainings on anti-corruption for all senior managers and online trainings of laws and regulations on integrity for all employees every year, and compile corruption cases and hold seminars to strengthen anti-corruption awareness every year.

 

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