Take context from the input text and decide on the accurate relationship between 'Sinopec' and 'BEIJING' from the options provided.
Options: industry, distributed by, location of formation, chairperson

BEIJING (Reuters) - Chinese state-owned energy giant Sinopec Group will sell off most of its hotels by the end of 2017 and get rid of more than 4,000 company cars as part of efforts to root out corruption and waste, it said on Monday.
location of formation