Utilize the input text as a context reference, choose the right relationship between Sinopec and BEIJING from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

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.

Answer: location_of_formation