Editorial Summary

China Petroleum & Chemical Corporation (Sinopec Corp.) (600028.SH; 0386.HK; NYSE: SNP) has signed agreements with its parent China Petrochemical Corporation (Sinopec Group) to acquire stakes in Sinopec Group subsidiaries worth a total of approximately RMB3.7 billion, reports Securities Times. Shares of Sinopec Crop. fell 0.94 percent to close at 23.21 Yuan on Wednesday.

Meanwhile, Baoshan Iron & Steel Co., Ltd.'s (600019.SH) parent company Shanghai Baosteel Group Corporation listed part of its subsidiary Shanghai Pudong Steel Company Limited's assets on the Shanghai United Assets and Equity Exchange on December 30 at a price of approximately RMB13 billion, reports Shanghai Securities Journal. According to the report, the listing is due to Baosteel Group's plan to accelerate the streamlining and integration of its internal assets. Shares of Baoshan Iron & Steel fell 0.97 percent to close at 17.27 Yuan on Wednesday on the Shanghai Stock Exchange.