Sinopec Group, ABC inks framework agreement on strategic cooperation
BEIJING, Jan 13, 2010 (Xinhua via COMTEX) --
Company: Bank of China Ltd
(BACHF)
The China Petrochemical Corporation
(Sinopec Group), China's leading oil refiner, announced on Wednesday
that it has inked a framework agreement with the Agricultural Bank of
China (ABC) on bilateral strategic cooperation.
According to the agreement, ABC is to provide a wide range of fi
nancial services, such as cash management, investment consultation and
credit lines, to support Sinopec's operation.
The Agricultural Bank of China is one of China's largest state-o
wned commercial banks. Sinopec Group is the parent company of the Chin
a Petroleum and Chemical Corporation (Sinopec, SNP.NYSE; 600028.SH).
Copyright (C) 2010 Xinhua Economic News. All rights reserved
News Provided by COMTEX
Company: Bank of China Ltd
(BACHF)
Related terms: bank, china, commercial, investment, oil, petroleum
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