China Petroleum & Chemical Corp (0386) said it was invited to invest in Saudi Arabian Oil Co as part of what could be the world's biggest ever initial public offering.
Talks are ongoing between the firms known as Sinopec and Saudi Aramco, Wang Yupu, chairman of the Chinese refiner, said yesterday.
"We talked with them on the plan, and generally speaking we had a very good conversation," Wang said of the Aramco offer.
Meanwhile, Zijin Mining (2899) chairman Chen Jinghe said the firm would continue monitoring merger and acquisition targets, adding gold mines and overseas projects would be some of its major focuses.
He said Zijin was also looking at certain projects in Argentina.
People's Insurance Company of China (1339) plans to expand its investments overseas as the ratio of its exposure to overseas assets remains below the industry average, said vice president Yu Xiaoping.
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