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China's LNG imports are forecast at nearly 50 million metric tons next year, whereas South Korean LNG demand will remain at less than 40 million tons, according to Marc Howson, director of the LNG market of S&P Global Platts.

China will stay true to the mission of upholding world peace and to the path of peaceful development. The pursuit of harmonious coexistence is in the DNA of the Chinese nation. Peaceful development is a strategic choice made by China in light of its national conditions and fundamental interests. It is a basic principle that must be followed in China's diplomacy in the long run. It is peaceful development, not predatory expansion, that has enabled China, a country once mired in poverty and backwardness, to grow into the world's second largest economy. For this reason, we will continue to uphold peaceful development and cooperation for win-win results, and stick to an independent foreign policy. No matter how advanced it may become, China will never seek hegemony, nor will it seek expansion or spheres of influence.

China's Geely Holding is to set up a new joint venture with Volvo Cars to share existing and future car technology, according to a Memorandum of Understanding the two parties signed on July 20.

China's booming demand for secured electronic components in defense and major science equipment also fueled the development, he added.

China's central bank on Thursday left interest rates for open market operations unchanged by fixing the rate for seven-day reverse repos — money sold and quickly bought back — at 2.45 percent, with the 14-day tenor, or payment time, at 2.60 percent and the 28-day tenor at 2.75 percent.