Xin Hua Wang·2026-01-08 13:47Group 1 - The restructuring of China Petroleum & Chemical Corporation (Sinopec) and China Aviation Oil Group has been approved by the State-owned Assets Supervision and Administration Commission (SASAC), marking a significant move in the central enterprise restructuring landscape [1][5] - Sinopec is the world's largest refining company and the largest aviation fuel producer in China, while China Aviation Oil is the largest integrated aviation fuel supply chain service provider in Asia, serving hundreds of airports [1][3] - The merger aims to create a seamless supply chain from crude oil refining to aircraft refueling, enhancing energy security for China's aviation industry and improving international competitiveness [3][5] Group 2 - The restructuring aligns with China's "dual carbon" goals, promoting the use of Sustainable Aviation Fuel (SAF) as a key measure for carbon reduction in the aviation sector [3][6] - Sinopec has been a pioneer in SAF production, and the collaboration is expected to break commercial barriers for SAF, facilitating its large-scale application at domestic airports [3][6] - The restructuring reflects a broader trend of central enterprises optimizing their structure and enhancing core competitiveness, with multiple strategic mergers occurring across various sectors [5][6]