HQCEC Facing New Opportunity for Development

摘要

China Huanqiu Contracting & Engineering Corporation (HQCEC) was entirely merged, through gratuitous transfer of assets, into China National Petroleum Corporation (CNPC) and became CNPC's wholly-owned subsidiary on June 14, 2005. The coming-together of HQCEC and CNPC realized both restructuring of industrial structures and merging of business chains. The merger will effectively promote HQCEC's development and sharpen the core competitiveness of CNPC's middle and downstream oil refining and chemical engineering businesses.