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CNPC and NSFC jointly establish united petroleum and petrochemical fund

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Publish time: 19th August, 2011      Source: CNPC
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On August 18, CNPC and National Natural Science Foundation of China (NSFC) signed an agreement in Beijing to jointly establish a united petroleum and petrochemical fund. Under the agreement, CNPC and NSFC will invest RMB 20 million and 10 million per annum in the next three years, respectively, to raise a total of RMB 90 million. The united fund will play an active role in promoting the sustainable development and independent innovation of the petroleum and petrochemical industry.

CNPC Vice President Zhou Jiping and NSFC Deputy Director Yao Jiannian signed the agreement. PetroChina Vice President Sun Longde presided over the signing ceremony.