Sinopec's E-commerce Platform Epec.com Closes Deals Totaling Nearly USD 40 Billion

Sinopec's E-commerce Platform Epec.com Closes Deals Totaling Nearly USD 40 Billion

PR Newswire

BEIJING, Nov. 5, 2020

BEIJING, Nov. 5, 2020 /PRNewswire/ -- Epec.com, a professional SC2B e-commerce platform for industrial products launched by China Petroleum & Chemical Corporation (HKG: 0386, "Sinopec") in 2017, has listed a total of 1,565 online vendors and more than 14,000 product items since it went online three years ago, achieving an accumulated transaction volume of over USD 39 billion.

Sinopec’s e-commerce platform Epec.com closes deals totaling nearly USD 40 billion.

Epec.com is an e-commerce platform facilitating SC2B (supply chain to businesses) transactions of industrial products, serving Sinopec as well as providing procurement, sales, financial and general services for global enterprises.

The international business platform maintains close cooperation with many international organizations, chambers of commerce of various nations as well as government bodies and institutions. Epec.com is committed to the sharing of developmental achievements, rich resources and high-quality services to promote global trade financing.

The business scope of Epec.com now encompasses 104 countries and regions worldwide, including more than 70 suppliers from BRICS Nations, besides China, that have listed over 200 products and gained USD 3.1 billion in trade volume.

To better facilitate trades among BRICS Nations, Epec.com has launched a BRICS Pavilion to promote the products produced by the BRICS Nations. In June 2017, the BRICS Business Council officially approved Epec.com as an e-commerce platform to provide services to the BRICS Nations. On September 1, 2017, Epec.com was listed as one of the eight core achievements by the BRICS Business Council.

As the 3rd China International Import Expo (CIIE) is set to open this week in Shanghai, Epec.com has introduced an online translation feature supporting 11 major languages, as well as the addition of overseas resource section on the Chinese language site to display resources of the international business platform, enabling international suppliers to communicate with Chinese buyers in multiple languages directly. Such new features provide convenience for international import trades.

Since the 2nd CIIE in 2019, Epec.com has imported 165 varieties of products such as raw materials, equipment and chemical products from 20 countries and regions including the U.S., Germany and Singapore, with a total value of USD 6.2 billion.

About Sinopec

Sinopec Corp. is one of the largest integrated energy and chemical companies in China. Its principal operations include exploration, production, pipeline transportation and sale of petroleum and natural gas; the sale, storage and transportation of petroleum products, petrochemical products, coal chemical products, synthetic fiber, fertilizer and other chemical products; the import and export, including an import and export agency business, of petroleum, natural gas, petroleum products, petrochemical and chemical products, and other commodities and technologies; and research, development and application of technologies and information.

Sinopec sets 'fueling beautiful life' as its corporate mission; puts 'people, responsibility, integrity, precision, innovation and win-win' as its corporate core values; pursues strategies of value-orientation, innovation-driven development, integrated resource allocation, open cooperation, and green and low-carbon growth; and strives to achieve its corporate vision of building a world leading energy and chemical company.

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