China Sets Up New State Pipe Company: Xinhua

China has set up a new centrally-administered state-owned enterprise to manage the country’s oil and gas pipelines, the state-run Xinhua News Agency reported December 9.

The China Oil & Gas Piping Network Corporation will partly be responsible for the investment, construction and interconnection of main oil and gas pipelines to form a nationwide network that will flow crude oil, refined oil and natural gas, the news agency said.

Xinhua described the creation of the central government enterprise as an important step forward in promoting the reform of China's oil and gas system.