SHANGHAI, December 18 /PRNewswire/ -- CBI China (http://www.cbichina.com), C1 Energy (http://www.c1energy.net/), Shanghai Petroleum Exchange Ltd, and Galaxy Merchandise Exchange (GEMEX) will hold a press briefing in Beijing to sign agreements covering future collaboration between the four companies.
Two collaboration agreements will be signed in the ceremony. The first will be a merger agreement between CBI China and C1 Energy.
Mr. Zhang Ye, CEO of CBI China said: "Founded in 1999 with rapid growth in the past eight years, CBI China has become the largest independent commodity information provider in China. 2007 is a year of most rapid development for CBI China. After a strategic alliance with the leading global chemical information provider ICIS (http://www.icis.com) on August 13, CBI China today merges with C1 Energy, the primary authority on oil and gas information in China. This merger will enable the combined entity to cover the production chain of oil, gas and petrochemicals and consolidate the best global and domestic resources. The goal of CBI China is to become the leading commodity information provider in China, even in Asia. Today, we have made the most important step to achieve the goal."
Ms. Shen Ping, General Manager of C1 Energy added: "After seven years in the business, although C1 Energy, as a well-known brand among high end oil and gas clients in China, has been recognized as the best business information source by the global and domestic oil industry, it still remains behind in terms of scale compared with global leading commodity information companies. To move forward, become stronger, and to introduce the Chinese brand into the global market place, we need to collaborate with stronger players. Today, the merger between the two companies is the beginning of our efforts of achieving this goal. We not only have similar values, management concepts and development principles, but we also complement each others strengths. I believe our collaboration will certainly offer our clients more professional and wider business information services."
Following the first ceremony, CBI China, Shanghai Petroleum Exchange Ltd and GEMEX will sign a strategic alliance agreement.
Mr. Ji Zhengdong, Chairman of GEMEX said: "This will be a whole new collaboration model with Shanghai Petroleum Exchange Ltd's sound background, GEMEX's trading platform, and CBI China's information services and broad market reach. We will launch an electronic trading platform that will bring trading and information under one roof. We believe only a highly regulated, safe and reliable platform, coupled with the most professional investment consulting services, are able to satisfy clients' needs. As such, we developed the GEMEX commodity trading system as a core based on Shanghai Petroleum (Crude Oil) Exchange platform, combined with professional market information and personalized investment consultation, to form the whole new service system. The system, also supported by CBI China, will broadly increase GEMEX's service quality."
Mr. Ji also reveals the development of a trading platform is nearly complete, and is expected to be on-line next week.
Mr. Yan Dongsheng, Deputy General Manager of Shanghai Petroleum Exchange Ltd. said: "As strategic partner of Shanghai Petroleum (Crude Oil) Exchange, GEMEX and CBI China fully supported the solid and rapid development of Shanghai Petroleum (Crude Oil) Exchange. GEMEX is a pioneer of electronic trading services in China, has a young and energetic team, a nationwide client network, and a swift, highly proficient, unique information service platform, while CBI China has the largest, the most diversified and in-depth research team in China currently. Hand-in-hand with such an outstanding team, we believe Shanghai Petroleum (Crude Oil) Exchange will soon develop into an oil and petrochemical pricing centre in China, even in Asia, and will realize the goal of mutual development and prosperity of Shanghai Petroleum (Crude Oil) Exchange and its strategic partners."
Mr. Zhang of CBI China is fully confident with regards to the strategic collaboration. He believes electronic trading of spot and futures contracts is an important trend in the global market, and may show an explosive growth rate. Terminals with information and trading services will be the first trading tool of choice.
With the signing of the strategic alliance of CBI China, Shanghai Petroleum( Crude Oil) Exchange, and GEMEX, the largest domestic information and trading service alliance has formed, and will bring significant value for prospective and current clients. Meanwhile, Mr. Zhang emphasizes that the strategic alliance will not undermine the independence of CBI China as a third party information provider. CBI China will reflect the market objectively, to provide clients with the most timely and accurate information, and will not be involved in any trading activity. The mission of CBI China is to increase the transparency of market information and reduce transaction trading costs, help clients to avoid risks and provide opportunities.
Notes to Editors:
CBI China
CBI CHINA is the largest comprehensive source for information on China's major commodity markets and industries such as petrochemicals, steel, oil and gas, non-ferrous metals, pulp and paper. With its experience and vast reach throughout China, CBI has developed a unique information network and business model for tracking commodity markets. For more information on CBI China visit
For further information, please contact: Sophie Cao CBI China sophiecao@cbichina.com
For further information, please contact: Sophie Cao, CBI China, sophiecao@cbichina.com
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