Exhibit 4.17

YEAR 2001 PERFORMANCE CONTRACT WITH VICE PRESIDENT OF PETROCHINA COMPANY LIMITED
        AND GENERAL MANAGER OF PETROCHINA CHEMICALS & MARKETING COMPANY

                                                                                       
Offeree: Name: ZHANG, Xinzhi                      Offeror: Name: HUANG, Yan                  Term of the Contract: January 1, 2001
                                                                                              to December 31, 2001
Title:  Vice President of PetroChina              Title:  President of PetroChina Company
        Company Limited ("PetroChina")                   Limited                             Date of Execution:   January 16, 2001
        and General Manager of PetroChina
        CHEMICALS & Marketing Company







                                                                                                                        ACTUAL
INDICES               KEY PERFORMANCE INDICES (KPI)         WEIGHT       MEASUREMENT        TARGET                    PERFORMANCE
-------               -----------------------------         ------       -----------        ------                    -----------
                                                                                                       
Profits Indices       Gross profit

                      Petro China                           5%           In thousand RMB    61,000,000

                      PetroChina Chemicals & Marketing      35%          In thousand RMB    200,680
                      Company
                                                                                            2.33
                      Rate of return of the invested        20%          %
                      capital of PetroChina Chemicals &
                      Marketing Company(ROIC)

Operating Indices     Proportion of total cash cost to      20%          %                  77.80
                      sales revenue *

                      Percentage of chemical products as    10%          %                  25
                      directly sold

                      Rate of differentiation               5%           %                  26

                      Receivables                           5%           %                  20% lower than the
                                                                                            amount at the beginning
                                                                                            of the year


                                                                              
Indices to Be Put under Control         Quality safety and    Quality accidents        Comprehensive
                                        environmental         reported by the news     performance
                                        protection            media at the             expressed in marks
                                                              provincial-level =       to be reduced by 10
                                                              0;                       marks if exceeding
                                                                                       target of the index
                                                              Accidents involving      put under control.
                                                              death < or = 0.05
                                                              persons/million
                                                              man-hours;

                                                              accidents involving
                                                              economic loss
                                                              exceeding RMB 1
                                                              million = 0;

                                                              environmental
                                                              pollution accidents
                                                              involving economic
                                                              loss exceeding RMB
                                                              200,000 = 0.




* The difference between the target proportion of total cash cost to sales
revenue and the actual one shall not exceed plus or minus 5%.

Signature of Offeree:  s/Zhang Xinzhi        Signature of Offeror:  s/Huang Yan
                       --------------                               ------------