Shell has been licensed for oil trading on the wholesale market in China. According to news agency Xinhua, it is the first time that the People’s Republic has granted this permission to a company that is entirely in non-Chinese hands.

According to the state press agency, the step shows that China wants to further open the domestic market for foreign companies. Internationally, the Asian country has been under fire for some time, because Beijing would keep the domestic market closed to foreign companies.

The marketing authorization has been granted to Shell Petroleum Trading. That is a subsidiary of Shell China.

Load More Related Articles
Load More By WeeklyNews staff
Load More In Business

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Some hope for Alzheimer’s disease treatment emerges

The American biotechnologist Biogen and his Japanese partner Eisai are making rapid progre…