According to the agreement, both sides will adhere to the principle of complementary advantages, win-win and joint development, play advantages in their respective fields of technology, talents, resources and market, innovate cooperation model and expand cooperation fields, and strengthen the cooperation in equipment manufacturing, engineering construction and overseas expansion, capital and financing to strengthen cooperation. Both sides will refine the works and maintain communication, and further promote the in-depth development of cooperation. 

　　Before the ceremony, Zhang Xiaolun and Zhang Yuzhuo communicated on strengthening cooperation. The two sides said that after the outbreak of COVID-19, SINOMACH and SINOPEC have cooperated closely with the aim of taking responsibility of central enterprises and united efforts to build a strong front for the production and supply of domestic medical supplies, which laid a good foundation for cooperation. 

　　In the future, the two sides will continue to implement the spirit of Xi Jinping's important instructions. Under the new development pattern with the domestic economic circulation as the main part and mutual promotion of economic circulation between domestic and international, both sides will implement national strategies and make due contribution to solve the national bottlenecks issues. 

　　The heads of relevant departments and subsidiaries of SINOPEC and SINOMACH participated in the above activities.