China Valves Technology, Inc. (NASDAQ:CVVT - News) ("China Valves" or the "Company"), a leading Chinese metal valve manufacturer, today announced that the Company has signed a strategic cooperation agreement (the "Agreement") with Sinopec International Petroleum Service Corporation ("Sinopec Petroleum Service"). Under the agreement, the Company would supply various valve products for Sinopec Petroleum Service's international projects.

The Agreement is a general cooperation agreement and is valid from June 16, 2011 to June 15, 2013, and can be further extended for another two years by negotiation between two parties. Both parties agreed that they would sign specific contracts for specific projects under the general cooperation framework. Depending on the specific project, Sinopec Petroleum Service would buy all valve products directly from China Valves or act as a sales agent of China Valves through its more than 35 subsidiaries in the world.

"We are very pleased to sign this agreement today. Sinopec is expanding very quickly overseas, which we expect will benefit us as a supplier of valve products," said Jianbao Wang, Chief Executive Officer of China Valves. "This agreement serves as a framework for strategic cooperation between China Valves and a major global player. We hope to partner with more firms like Sinopec in the future."