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Sinopec Sales Company in south China builds strategic partnership with Guangdong

BEIJING, Aug 19, 2009 (Xinhua via COMTEX) --

Company: Bank of China Ltd (BACHF)

Sinopec's (SNP.NYSE; 0386.HK; 600028.SH) sales company in south China has signed an agreement with Guangdong provincial Industrial and Commercial Bank of China (ICBC) to build a strategic partnership, reported Sinopec-run website on Tuesday.

Based on the partnership, the Guangdong ICBC will provide the upstream and downstream clients of Sinopec sales company with financial services, including raising finance and cash management.

It is expected the cooperation will help Sinopec's sale company to lower cost in transaction.

Copyright (C) 2009 Xinhua Economic News. All rights reserved

News Provided by COMTEX

Company: Bank of China Ltd (BACHF)


Related terms: commercial, finance, financial services, guangdong, industrial, partnership, sales

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