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China State Shipbuilding Corp, the world's largest shipbuilder, on Wednesday inked a 20 billion yuan (.8 billion) deal to supply liquefied natural gas tankers to Qatar Petroleum, the world's largest LNG supplier, the biggest export deal in China's shipbuilding sector.

China Life will also actively invest in projects related with the reform of country's State-owned enterprises including debt-for-equity swaps to help reduce the debt burden of the SOEs, according to Zhao.

China Petroleum and Chemical Corp reported a 19.15 billion yuan (.71 billion) net loss in first-quarter earnings, compared with 14.76 billion yuan net profits in the first quarter of 2019.

China Mobile Communications Corp, the world's largest telecom carrier by subscribers, said mobile internet of things (IoT) connections will surpass 1.75 billion by 2020, as the telecom heavyweight accelerates its commercialization of IoT services across the country this year.

China Telecom also said in a statement that the 5G licensing will be a key step to build the country into a cyber power. It is also conducive to gaining a competitive edge in the telecom sector, which will help drive technological innovation, embrace industrial upgrading as well as boost high-quality economic growth, the company said.