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China Duty Free Group, a unit of the mainland's largest tourism conglomerate China National Travel Service Group Corp, is looking to become one of the world's top three duty-free operators, possibly as soon as next year.

China Development Bank, one of the country's three policy banks, and the Russian Direct Investment Fund (RDIF) announced on Tuesday plan to set up China-Russia RMB Investment Cooperation Fund.

China and the Central and Eastern European (CEE) countries need to promote institutionalized people-to-people exchanges and help people of both sides to gain a better understanding of one another, Liu said at the China-CEE countries' political parties dialogue held in Romania last Friday.

China Mobile's Q1 revenue also rose 3.7 percent to 184 billion yuan, with telecom services revenue surging 6.1 percent to 160.9 billion yuan.

China aims to increase its cargo volume on national railways by 1.1 billion metric tons and on waterways by 500 million tons. It will also reduce the cargo volume on highways linked to coastal ports by 440 million tons from now to 2020, said Liu Xiaoming, vice-minister of transport.