China Corporate News: Sinopec Sold 100m Tons of Refined Oil in 2011; China Telecom Makes Foray Into Western Europe

Sinopec Sold 100m Tons of Refined Oil in 2011
Sinopec Group, Asia's largest oil refiner and the parent of Sinopec Corp (NYSE: SNP, SHA: 600028, HKG: 0386), said its sales volume of refined oil cracked the 100 million ton mark in 2011. Sinopec currently operates more than 30,000 gas stations across the country.

PetroChina Sets Up Self Insurer with Parent
PetroChina Co (NYSE: PTR, SHA: 601857, HKG: 0857) said it signed an agreement with its parent, CNPC, to establish a self insurance company with ¥5 billion in registered capital. PetroChina will own 49% of the joint venture and its parent the remainder.

The9 Wins Exclusive Deal with Sony Ericsson
The9 Ltd (NYSE: NCTY), a Shanghai-based online game operator, said it signed a deal to be the sole Chinese operator of Sony Ericsson's PlayNow app store, where users of Sony Ericsson handsets can download ringtones and entertainment software.

China Telecom Makes Foray Into Western Europe
China Telecom Corp (NYSE: CHA, HKG: 0728), the smallest of the nation's top three wireless carriers, plans to expand into more European markets after starting its first overseas wireless service in the ...

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