Sinopec will screen investors in retail assets

China Petroleum & Chemical Corp. (SNP.NYSE, 0386.HKG, 600028.SHA) has disclosed rules it will use to screen potential private investors for its fuel retailing operations, Bloomberg reported, citing a Hong Kong stock exchange filing on Monday. The company said it will consider bidding price, size of investment, brand image and financial strength when selecting investors, as well as whether the candidates can become partners of the sales unit and whether they are registered onshore or abroad. Sinopec is selling assets after Premier Li Keqiang pledged this year to allow non-state capital in oil and power projects and speed up development of mixed-ownership entities.