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China Petrochemical Corporation's first lubricant plant outside China - Sinopec Lubricant (Singapore) Pte Ltd - has continued its rapid growth and expansion by increasing business with Chinese companies overseas, according to one of the company's senior executives.

China Unicom, the country's second-largest mobile carrier by subscribers, has set up a branch in South Africa, as part of its broader push to tap into opportunities in countries and regions involved in the Belt and Road Initiative.

China also issued a report of its implementation of the UN 2030 Agenda for Sustainable Development on Monday, pledging to make progress and balanced development in the economic, social and environmental areas.

China and the European Union are two major economies in the world today. The conclusion of the CAI, also known as China-EU bilateral investment treaty, is not only conducive in deepening bilateral economic and trade cooperation, but also has great significance to the recovery of the global economy, the ministry said in a statement on late Thursday.

China also will continue its efforts to improve the level of convenience during custom clearance, reducing associated fees and customs clearance times in an effort to improve the business environment, she said.