It is reported that the China Petrochemical Corporation has been named as an official sponsor of the 2008 Olympics in Beijing.
It has promised to clean up its fuel, in order to meet the pre-Games anti-pollution standards.
The company will fund and provide petrochemical products and services for the 2008 Olympic Games, at a cost of $1.6BN, as well as for China's team at the 2006 Winter Games in Italy.
Other sponsors of the 2008 Games are; Volkswagen AG and Chinese firms Bank of China, China Mobile , China Network Communications and Air China.
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