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A CEFC China Affiliate Qualified for Bonded Oil Operation for Vessels Sailing on International Routes

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Li Xiaolong receiving the qualification certificate on behalf of CEFC China



Jiang Chunyu addressing the certificate presentation ceremony on behalf of CEFC China


On the morning of June 8th, the Ceremony for Presenting the First Batch of Qualification Certificates for Bonded Oil Operation for Vessels Sailing on International Routes was held in Zhoushan City, Zhejiang Province. CEFC (Zhoushan) International Petroleum Co., Ltd., an affiliate of CEFC China, received the certificates along with three other enterprises from Ma Guohua, Deputy Secretary of the Party Working Committee of Zhoushan Archipelago New Area. The ceremony was attended by Xu Xiaoyue and Fu Liangguo, Vice Mayors of Zhoushan; Xia Wenzhong, Vice Chairman of the Chinese People's Political Consultative Conference of Zhoushan; Jiang Chunyu, Party Secretary of CEFC China, who delivered a speech on behalf of the company; Li Xiaolong, Deputy General Manager of the Planning Department of the Strategic Decision Committee and Zhang Fan, General Manager of CEFC (Zhoushan) International Petroleum Co., Ltd.

The Interim Measures for the Administration of the Bonded Oil Operation for Vessels Sailing on International Routes in China (Zhejiang) Pilot Free Trade Zone came into effect on June 1, 2017, marking the first time the State Council of China delegated the licensing right of bonded oil operation for vessels sailing on international routes within the Zone to Zhoushan Municipal People’s Government. It was also the first time that the qualification requirements for applying for bonded oil supply had been specified. CEFC (Zhoushan) International Petroleum Co., Ltd. fully funded by CEFC China, was registered locally and established to further boost China’s energy sector and better develop China (Zhejiang) Pilot Free Trade Zone. After obtaining the qualification for bonded oil operation for vessels sailing on international routes, the company will supply bonded fuel to vessels sailing on international routes at major ports in Eastern China as the first step to expand the upstream, midstream and downstream business, with Zhoushan as the operation and development center for the oil industry in China.

In his speech, Jiang Chunyu introduced how CEFC China, under the leadership of Chairman Ye Jianming, had gone along with the trend by “going global” as a response to the Belt and Road Initiative. CEFC China had built a well-organized whole industrial chain in the energy sector and laid out the international investment bank business rapidly, achieving the connectivity of the domestic and overseas markets. According to him, CEFC China, relying upon its global industry and brand resources, will be fully committed to the development of Zhoushan-Northeast Asia Bonded Oil Supply Center with CEFC (Zhoushan) International Petroleum as its business entity. Upholding the principles of law-abiding operation, safety and environmental protection as well as the willingness to serve the nation and benefit the society, the company will efficiently develop its oil supply business for bonded vessels and on the basis of which, promote the oil-related industries so as to make great contributions to the development of the free trade zone.

Before the ceremony, Jiang Chunyu and Vice Mayor Xu Xiaoyue conducted a sincere and in-depth discussion on further cooperation intention between the two sides. Xu spoke highly of CEFC China’s development and warmly welcomed its business operation in the free trade zone, noting that Zhoushan municipal government will offer its full support to help CEFC China consolidate its strategic layout in the energy sector in China. 

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