On September 10, 2026, in Beijing, CPC Capital and Yingda Group officially signed a cooperation framework agreement. Both are specialized industrial financial operation platforms within the central enterprise system, rooted in the two fundamental energy fields of petrochemicals and power energy. The signing of this agreement marks a significant leap in the cooperation mode between the two energy finance platforms, from the previous phased and fragmented business docking to institutionalized, long-term, and all-round deep collaboration. It also opens up an important cross-border linkage between the petroleum industry system and the power energy system in the field of industry finance integration.

From business coordination to institutional collaboration

Both parties agreed during the discussion that the signing of this framework agreement marks a significant milestone in the implementation of the cooperation model. CPC Capital will be based on the actual development of the entire petroleum industry chain, and will carry out in-depth cooperation with Yingda Group around the dimensions of collaborative implementation of physical business, innovative iteration of industrial models, and improvement of management quality and efficiency. By integrating platform resources from both parties, breaking down industry barriers in the oil and power sub sectors, exploring new models of industry finance collaboration that are suitable for the current development status of China's energy industry, and helping China's oil and State Grid to upgrade their main businesses, we aim to solidify the foundation for the stable development of the energy industry.

Equity binding to build a cooperative carrier

In the past two years, China Petroleum and State Grid have continuously promoted resource integration and business linkage through their respective financial platforms. In December 2025, both parties will launch a systematic two-way resource integration layout. China National Petroleum Corporation plans to transfer part of the equity of CPC Capital to Yingda Group, and simultaneously promote CPC Capital's acquisition of 100% equity of Yingda Futures. The above matters were approved by the State owned Assets Supervision and Administration Commission of the State Council in January 2026. In June 2026, the transfer of all relevant shares of CPC Capital was completed, and Yingda Group officially became a strategic partner of CPC Capital. At the same time, State Grid Yingda is simultaneously promoting equity transfer, and China National Petroleum Corporation will become an important strategic shareholder. The cooperation pattern of two-way cross empowerment and deep binding between the two sides has basically taken shape. Keywords: Central Enterprise News Network, Enterprise Cooperation, Petroleum, Electricity

Industry Finance Collaborative Service Energy Strategy

Yingda Group stated that this strategic cooperation can effectively integrate power industry resources, comprehensive financial service capabilities, and the application scenarios of the entire petroleum industry chain. Both sides will focus on the overall deployment of building an energy powerhouse, effectively fulfill the social responsibility of central enterprises, coordinate the integration of industrial resources and financial license advantages, and explore innovative paths for the deep integration of the energy industry and financial services. In July 2025, PetroChina participated in the capital increase and share expansion project of State Grid New Energy Holdings Co., Ltd. The two parties established a deep cooperation relationship in the fields of pumped storage development, new power system construction, and large-scale utilization of clean energy. The business covers multiple core tracks such as traditional energy quality improvement, new energy development, and energy storage support, forming a three-dimensional cooperation system with two-way linkage between physical industries and financial services.Editor/Gao Xue