Misuse of money brings shame to Sinopec Group

BEIJING - A subsidiary of the China Petrochemical Corporation (Sinopec Group) breached the group's internal rules by handing out millions of yuan in bonuses to executives and employees between 2008 and 2010, the Beijing News reported on Thursday, citing a company document.

The total value of the merit pay was 6.4 million yuan ($985,000), according to the report.