On April 6, China Post Group Corporation Limited (hereinafter referred to as China Post Group) held a working meeting and signed a strategic cooperation agreement with China National Petroleum Corporation (hereinafter referred to as CNPC) in Beijing. Liu Aili, Chairman of China Post Group, Kang Ning and Wang Jian, Vice Presidents of China Post Group, Dai Houliang, Chairman of CNPC, Duan Liangwei, Director of CNPC, Lyu Bo, Vice President of CNPC, had an in-depth discussion on strengthening long-term strategic cooperation between the two parties and jointly attended the signing ceremony. Kang Ning and Duan Liangwei signed the agreement on behalf of both parties.

During the meeting, both parties reviewed their respective history of reform and development, introduced their main business features, and exchanged issues related to their cooperation. They both agreed to establish long-term strategic partnership on the basis of their existing cooperation, give full play to their respective advantages, and further expand their cooperation fields and business scale.

China Post and CNPC have been maintaining good cooperation all along the time in a wide range of fields such as banking, delivery service and oil procurement. According to the strategic cooperation agreement signed this time, on the principle of "open and sharing, mutual benefit, equality and free will, compliance with laws", the two parties will make full use of their own advantages in their respective fields and carry out in-depth cooperation on market expansion, financial services, express and logistics, postal services, etc., so as to achieve mutual development.

In terms of market expansion, the two sides will actively explore cooperation that CNPC may render fuel discount and other high quality services to the car owner members of China Post. They may jointly issue co-branded gas cards, while China Post may provide convenience service for CNPC customers to recharge their gas cards in its widespread postal outlets. They may be suppliers to each other, and cooperate in sales, transportation and distribution at CNPC-operated uSmile convenience stores, postal outlets and offline stores of ule.com operated by China Post. They may also carry out in-depth cooperation in marketing campaigns oriented to their member customers. In terms of express and logistics services, the two sides will cooperate in warehousing and operations of non-oil goods, logistics distribution, domestic and international mail service, planning of supply chain warehousing logistics, etc. In terms of financial services, the two sides will carry out cooperation in loans, bills, settlement and fund management, credit financing, supply chain finance, bond issuance, investment banking, trust, financial leasing, asset management, insurance, financial product consignment, equity investment and other fields, so as to support the development of relevant industries which bear strategic priorities for both sides. In addition, the two sides will actively carry out capital cooperation such as investment and financing, and strengthen cooperation in the field of corporate culture.

It is reported that CNPC is a super large petroleum and petrochemical conglomerate, complete with an industrial chain of petroleum exploration, development, refining, sales and oilfield services, as well as petroleum equipment manufacturing. It ranked fourth on the Fortune Global 500 list in 2020.