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Reforms to open China's Sinopec to private investment

The move is part of state-owned enterprise reforms that hope to make the companies involved more competitive and market oriented

Sinopec, China's second-largest national oil company, is carrying the torch for Beijing's state-owned enterprise (SOE) reforms. The company is pushing ahead with a major restructuring that it says will open the company to more private investment while making the company more competitive and market-oriented. At the same time, it is benefiting from broader energy sector reforms that have seen it earn more for the natural gas it produces and fuel it sells at the pump.  Early signs that the reforms are paying off for Sinopec came in late August. The company reported a net profit of 52.27 billion yuan ($8.49bn) for the first half of this year, buoyed by higher natural gas prices, strong performa

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