CNPC Capital (China Petroleum Group Capital Co., Ltd.) has undergone asset reorganization in history. The most famous reorganization took place in 20 16. Jinan Diesel Engine Co., Ltd. (hereinafter referred to as Jichai), the predecessor of PetroChina, and China Petroleum and Natural Gas Group Corporation (hereinafter referred to as CNPC) carried out major asset reorganization.
In this reorganization, Jichai Co., Ltd. replaced the original diesel business assets with the financial business assets of China Petroleum Group, thus transforming into a financial business company. After the reorganization, Jichai Company changed its name to China Petroleum Group Capital Co., Ltd., namely CNPC Capital, and became the management platform of CNPC's financial business.