China＇s state-dominated oil sector has started to make efforts to woo private capital amid a growth slowdown in the world＇s second-largest economy. China National Petroleum Corporation （CNPC）, a state-owned oil giant, has recently signed an investment framework agreement with investors, including the National Council for Social Security Fund （NCSSF）, Urban Infrastructure Construction Investment Fund （UICIF） and Baosteel Group Corporation, to jointly develop China＇s third west- east natural gas transmission project.