CNPC & COFCO Ink Strategic Cooperation Agreement

A strategic cooperation framework agreement was inked between CNPC and China Oil & Foodstuffs Corporation (COFCO) in Beijing. CNPC Chairman Wang Yilin and COFCO Chairman Zhao Shuanglian had a meeting and were present at the agreement signing ceremony.

Under the agreement, the two sides will carry out comprehensive cooperation in products & commodity, marketing, membership communication, public welfare, and new business areas based on a principle of resource sharing for mutual benefits.

Furthermore, CNPC and COFCO will promote O2O cooperation via the internet platform, in order to integrate the marketing channels, enrich commodity combinations, share customer resources, and improve the consumption experiences. Prior to the signing of the agreement, the two companies had already launched pilot projects for promoting COFCO's grain and oil products in CNPC's service stations in Beijing, Tianjin, Hebei, Shandong, and Henan, and achieved remarkable results.

COFCO is a leading supplier of agri-products, diversified foodstuffs and services in China, integrating agri-trading, logistics, processing, production and sale links, and providing grain and oil products to one quarter of global population.