China Post Develops Deep Cooperation with Sinopec

Vice General-Manager of China Post Zhang Ronglin signed a strategic cooperative agreement with Vice General-Manager of Sinopec Group Zhang Haichao on December 8 in Beijing to further deepen cooperation in market development, financial services, postal express, logistics and business to achieve mutual benefit and a win-win result.

Sinopec Group President Wang Yupu and China Post General-Manager Li Guohua attended the ceremony. China Post Vice General-Manager Kang Ning presided over the event.

Before the ceremony, a delegation led by Wang visited the China Post 120th Anniversary Commemorative Photos Exhibition, the currency trading center at Postal Savings Bank of China (PSBC) and the China Post command and dispatch center. The group had a talk with leaders of China Post.

"Facing the changing market environment in recent years, China Post has been seeking upgrading and transformation, and achieved good results in finance, express services, logistics and its postal business," said Li. “China Post's cooperation with Sinopec Group in strategic investment, capital accumulation, warehousing, distribution and delivery has reached some achievements. We will make full use of our resources and deepen cooperation with Sinopec to realize mutual benefit."  

Wang highly praised the success of China Post. "China Post's transformation and development has brought inspiration to Sinopec Group. We are confronted with the new-energy and electric automobile industry so we should take precautions, make strategic planning in advance and consider the integration of real economy and the banking business," Wang said. "China Post has extended branches in rural areas, which offer lots of convenience in collection and distribution to Sinopec. We hope the two parties can have exchanges in strategy, learn from each other and strengthen State-owned enterprises together."

Sinopec is a Chinese oil and gas company based in Beijing, China. It is listed in Hong Kong and also trades in Shanghai and New York. It signed a cooperation framework agreement with China Post in 2011 and a strategic cooperation agreement in 2013. 

(China Post)