Privatization plans gain speed

China National Petroleum Corporation plans to attract private investment for part of its West-East gas pipeline business. The company is also planning to restructure its oil and gas-service company.

CNPC will offer a 49 percent stake in its oilfields in the Xinjiang Uygur autonomous region to other investors, including private companies.

China Petrochemical Corporation has completed the reorganization of its profit-making sales unit by inviting private and non-State investors.