On March 1, China Post Group Corporation Limited (hereinafter referred to as China Post) and Sinopec Marketing Co., Ltd (hereinafter referred to as Sinopec Marketing Company) signed an agreement on the supply of refined oil and a cooperation framework agreement on warehousing and logistics in Beijing.

According to the agreements, both parties will deepen cooperation in refined oil supply, social public welfare collaboration, logistics supply chain optimization, warehousing and logistics big data interaction and other aspects, expand their business cooperation, and promote cost reduction and efficiency improvement. China Post and Sinopec Marketing Company will seize this opportunity to jointly promote the rapid implementation of their business cooperation and create a model of strategic cooperation between state-owned enterprises.

It is reported that Sinopec Marketing Company owns the second largest gas station network in the world and the largest retail network of direct-sale convenience stores in China.