China Post signs “deep cooperation” agreement with Sinopec

China Post has signed a strategic cooperative agreement with the oil and gas company Sinopec. According to a statement issued by China Post today (15 December), the two company aim “to further deepen cooperation in market development, financial services, postal express, logistics and business to achieve mutual benefit and a win-win result”.

China Post General-Manager Li Guohua said: “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.

“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.

Sinopec Group President Wang Yupu 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 signed a cooperation framework agreement with China Post in 2011 and a strategic cooperation agreement in 2013.