Employees work at a JD.com logistic centre in Langfang, Hebei province. Photo: Reuters/Jason Lee

U.S. tightens exports to China’s chipmaker SMIC, citing risk of military use

JD.com and China Sinopec have signed an extensive cooperation agreement to further expand both parties’ offline sales, Yicai.com reported. According to the agreement, JD.com will settle in Sinopec’s 25,000 convenience stores throughout China.

Product prices will be synchronized with online retail prices listed on JD.com, and consumers can instantly purchase or place online orders and wait for offline delivery.

At the same time, China Sinopec’s products will also be available on JD.com, and enjoy the network, sharing, delivery and other functions in the retail channel.

Officials in charge of JD.com told Yicai.com that the specific form of cooperation between two sides “has not yet finalized,” and “there are still some details (to be settled) in consultation.”

Currently, China Sinopec has more than 30,000 gas stations and 25,000 convenience stores.

It owns the most extensive domestic retail network of goods, with more than 20 million customers a day to serve, the report added.

Asia Times Financial is now live. Linking accurate news, insightful analysis and local knowledge with the ATF China Bond 50 Index, the world's first benchmark cross sector Chinese Bond Indices. Read ATF now.