Profit in the first 11 months of this year increased by more than 30% year-on-year

　　China Petroleum News? (Reporter Lv Yanping)? In the face of the pressure from macro and micro markets, CNOOC Finance Company has been closely focusing on the strategic goal of building a world-class comprehensive international energy company, striving to improve its service quality and management level and making more contributions to the Group. Under the circumstance that the group company is compressing interest-bearing liabilities and capital is tight, the company continuously strengthens and plays the functions of the group company's internal bank, capital pool and treasury service platform, deepens open source, reduces cost and increases efficiency, and strives to meet the financial needs of member units. By the end of November this year, CNOOC Finance Company's profit for the year rose 32.3% year-on-year.

　　Comprehensive strength is leading in the industry. CNOOC Finance always insists on operating in compliance with the law, and constantly improves the construction of internal control, process, system and governance operation system around a series of links of decision-making, execution and supervision to enhance the company's risk control, business innovation, service quality and governance level. Prevent and mitigate credit investment risks by strengthening the management of loan guarantee conditions, counterparties, investment varieties and market timing. 2.76 billion yuan of provisions were made in 2015, which strengthened the foundation of counter-cyclical regulation of credit investment business. all risk supervision indicators of the company met the standards in 2015. the industry rating was A-class innovation class company in 2016. The company has obtained a number of new business qualifications such as domestic derivative trading, bond underwriting and cross-border foreign exchange pooling, and its Hong Kong subsidiary was awarded the "Tao Zhu Award - Best Finance Company Award" by Eurofinance for the first time. In addition, the company was awarded "Outstanding Member of China Bond Market" for three consecutive years, the only company in the industry to receive this award.

　　Provide high-quality financial services. At present, CNOOC Finance has provided convenient and efficient free settlement services for more than 2,000 accounts of more than 1,000 group members, and assisted the group in monitoring the information of thousands of accounts of more than 100 enterprises outside of China to ensure the safety of the group's overseas funds. In the first 11 months of this year, more than 4,948,000 settlements in domestic and foreign currencies were completed. At the same time, through various channels such as overseas bond issuance and domestic positive repurchase, we integrated funds from external markets to further strengthen the function of capital protection. In the first 10 months of this year, it provided loan support to more than 100 member enterprises and overseas projects. The company also gives full play to the function of foreign exchange management platform to assist enterprises in avoiding the risk of exchange rate fluctuations.

　　Helping enterprises reduce costs and increase efficiency. While safeguarding the capital needs of its members and improving the efficiency of capital operation and settlement security, the company has always adhered to the preferential concession policy and helped its members reduce financial expenses and costs by RMB 2.5 billion in the first 10 months of this year through measures such as interest rate reduction on loans, reduction and waiver of transaction fees and lower exchange costs. At present, more than 90% of the company's RMB loans carry out the benchmark interest rate downward, with the downward rate of more than 10%, up to 20%, and the preferential interest rate is higher than that of the industry and banks. in 2015, the company's loan interest rate was 1.32 percentage points lower than the industry-wide average. In the current situation where the Group's operation is under pressure, the finance company provides preferential and concessional loans to the Group's member units to maximize the protection of the development of the main oil and gas industry.