The Nanchang City Intermediate People’s court in Jiangxi Province found Wang guilty of accepting bribes worth about 33.48 million yuan (US$ 4.9 million) and embezzling state-owned properties worth 795,934 yuan (US$ 115,667), Xinhua News Agency said.
The court also fined Wang 3.2 million yuan (US$ 465,035) and confiscated his illicit gains, Xinhua said.
"Wang's disciplinary violations severely contravene the core values of Sinopec," a company spokesman told Reuters. "The company has used his case to educate the employees.”
Wang is the latest high-profile executive to be jailed in President Xi Jinping’s extensive campaign against corruption since he came to power four years ago.