Moving forward: PetroChina shares rise 0.4 to settle at HK5.75 in Hong Kong, the highest close since Nov 12. – AFP
HONG KONG: President Xi Jinping’s overhaul of China’s energy industry took a step forward as PetroChina Co announced plans to unload US$2.4bil in Central Asian pipelines.
The country’s biggest energy producer will sell a 50% stake in Trans-Asia Gas Pipeline Co to a unit of China Reform Holdings Corp, another state-owned company that acts as an investment firm charged with revamping government-run entities.
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