Some employees of PetroChina, the state-owned oil giant and the current No.2 on FT 500 List, are going to be allowed to ‘group purchase’ eight buildings of apartments near Beijing’s CBD at only about thirty percent of their true price. This suspicious move immediately sparked huge outrage among China’s urban middle-class. PetroChina is a state-owned monopoly, along with its sister company Sinopec. Because they are state-owned, they often enjoy preferential government policies and because the

Tags: Apartments, Beijing, Buildings, Cbd, China, Ft 500, Government Policies, Group Purchase, Monopoly, Oil Giant, Outrage, Petrochina, Sinopec, Sister Company, True Price, Urban Middle Class