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Analysts said the Chinese central bank was filling demands for credit while keeping financial system risks under control.

Analysts say nation is charging ahead with strategic purchases abroad in energy sector

Analysts said PetroChina's increased natural gas output still lags behind the country's gas demand growth, as the government steps up efforts to promote the fuel to tackle severe air pollution. S&P Global Platts Analytics forecast that China will increasingly replace coal with cleaner burning gas to reduce air pollution.

And 5G will be one of the key areas for infrastructure spending, which can fuel economic growth, Yang said.

And Cranfield University and Harbin Engineering University will explore potential synergies in the installation and operation of different off shore energy facilities, with the aim of lowering overall costs.