BEIJING, Dec. 29 (Xinhua) -- Chinese oil giant Sinopec Group (600028.SH) will participate in the construction of China (Hainan) Pilot Free Trade Zone, announced the company on Friday.
According to an announcement on the official website of Sinopec, the company will establish strategic cooperation relationship with the government of Hainan province in multiple areas, including ethylene projects construction, oil and gas exploration, new energy development and utilization, energy trade and sales network construction.
The cooperation projects agreed by the two sides are expected to accelerate the development of China (Hainan) Pilot Free Trade Zone.
Sinopec Group, formally known as China Petrochemical Corporation, is a state-owned oil and gas company. It ranked the 3rd on Fortune's Global 500 List in 2017. (Edited by Li Wenxin, liwenxin@xinhua.org)