Sinopec to further diversify its online industrial supply system

The online industrial product system epec.com has witnessed total transactions of 90.2 billion yuan ($13.1 billion) since its launch last April, a year-on-year increase of 526 percent, Asia's largest refiner China Petroleum & Chemical Corp said on Tuesday.

More than 1.58 million products are available at the platform from industries including coal, steel, petrochemicals and oil equipment, after one year's operation, an increase of 532 percent year-on-year, with registered enterprises reaching 35,000, up 45 percent compared with the previous year, said the refiner, which is also known as Sinopec.

The online industrial product system, which the company aims to build into an industrial version of Taobao.com, the country's largest online shopping marketplace owned by Alibaba, is part of Sinopec's efforts to promote market-oriented transformation to further diversify its business and enhance profitability.