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China Tower got listed earlier this month to raise money for future growth. It is also expanding into new business areas by partnering with Alibaba Group Holding Ltd, State Grip Cop of China and other companies. Such cooperation is based on the fact that telecom towers can be shared by different industries because they have access to both wired and mobile networks and are linked to a steady power supply.

China National Petroleum Corp, the State-owned energy giant, is planning to ramp up oil and gas output to more than 200 million metric tons of oil equivalent this year, while looking to raise the share of natural gas output to a record high of 50 percent.

China Unicom emphasized that any cooperation by either company with a third party must not improperly harm the interests of the either company.

China and the United States are going to have closer cooperation in areas of counter-narcotics, cybersecurity and repatriation, according to an intergovernmental joint statement released on Friday.

China aims to reduce taxes on businesses and individuals by more than 800 billion yuan this year, according to a government work report released in March.