Sinopec and Shouchuang Establish Joint Venture for Beijing Gas Stations
In July 2004, Sinopec's Beijing branch and Beijing Shouchuang Petroleum Investment Co., Ltd. jointly established a joint venture with a registered capital of 1 billion yuan; the former invested 700 million yuan in the physical assets of 123 gas stations, while the latter contributed 300 million yuan and planned to build 60 new gas stations.