| Abstract: | The Beijing-based China National Petroleum Corporation (CNPC) has got approval from the State-owned Assets Supervision and Administration Commission of the State Council and China Banking Regulatory Commission to buy the stake in Karamay City Commercial Bank in Xinjiang Uygur Autonomous Region. The deal was an important step for the companyto develop its own financial business. Currently, CNPC is making efforts to accelerate the development of thefinancial business to diversify its portfolio. |
