Sinopec Sees Substantial Growth in Taxes and Profits in 2002

Sinopec, one of China‘s three oil giants, has generated 53.1 billion yuan in taxes and profits in 2002, a 5.97 percent growth as compared to those in the previous year. The annual business income is estimated to reach 370 billion yuan, 7.7 up from last year, while the profits amount to 12.8 billion yuan, 6 percent up.