Sinopec Shanghai Petrochemical Company Limited Competition

China's own entry into the world of giant chemical companies, Sinopec Shanghai Petrochemical Company is one of that country's largest producers of ethylene, a crucial ingredient in the manufacture of synthetic fibers and plastics. It also makes petroleum-based fuels and oils and other intermediate petrochemicals, such as benzene. The company operates primarily within China; most of its revenues are from eastern China. Though it was founded as a maker of synthetic fibers, that segment is Shanghai Petrochemical's smallest now; petroleum products account for almost half of sales. China Petroleum & Chemical (Sinopec), which is controlled by the Chinese government, owns about 55% of Shanghai Petrochemical.