The company filed an application for state compensation to the SPC's compensation committee in 2015, and after a court hearing with SPC Vice President Tao Kaiyuan as the chief judge, the committee ruled that the local police should return the funds confiscated previously and pay interest totaling 830,000 yuan.
The committee has taken over some jobs from the three counties included in the new area - Xiongxian, Rongcheng and Anxin. It will handle administration, personnel, Party affairs and the maintenance of social stability.
The company has played a critical role in providing essential products nationwide through partnerships with nearly 40 retail brands such as Walmart, Yonghui, Better Life, Aeon, Lotus, 7Fresh, Century Mart, and 16 community-based fresh produce retail chains since early February.
The commission said tourism-related revenue earned in the same period hit 24.5 billion yuan (.54 billion).
The companies had completed more than a year of a trial run by the end of 2017 and are being assigned by the commission to help finish draft rules to better guide and manage the 98 central SOEs. The draft will be reviewed by the commission sometime this year, according to the commission's regulatory bureau.
The company also provides IT services in the energy, healthcare and financial sectors. Tongfang operates research and manufacturing facilities in more than 20 countries and regions, according to its website.
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The company has played a critical role in providing essential products nationwide through partnerships with nearly 40 retail brands such as Walmart, Yonghui, Better Life, Aeon, Lotus, 7Fresh, Century Mart, and 16 community-based fresh produce retail chains since early February.
The company also clarified in an announcement it has not formed any substantive plans and intentions on the "reorganization" reported by some media.
The company has successfully applied its 3D printing techniques to manufacture exhaust pipes for Ford cars. Different from traditional exhaust pipes whose simple design leads to bad air flow and huge power loss, the company's 3D-printed pipes weigh 67 percent less. They can also help vehicles change airflow speed of the car engine, which saves energy.
The company aims to build Epec into an industrial version of Taobao.com, the country's largest online shopping marketplace, which is owned by Alibaba, said Wang Yubing, president of Sinopec's procurement division.