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China aims to become an "innovative nation" by 2020, an international leader in innovation by 2030, and a world powerhouse of scientific and technological innovation by 2050.

China announced new measures over the weekend to further open its financial sector, with the liberalization extended to several new business areas. Foreign asset managers will be allowed to take controlling stakes in wealth management joint ventures with the subsidiaries of Chinese commercial banks and insurers. Foreign companies are also allowed to own stakes in pension fund managers and currency brokers. The latest policies also involved deregulation in bond underwriting and credit rating businesses.

China National Petroleum Corp said earlier it would split its natural gas sales and pipeline units to further accelerate natural gas industry reform and promote a market-based pricing system for the sector.

China and the US can always compete with one another, but proven cooperation will certainly lead to far greater results. A healthy, consistent and stable Sino-US economic and trade relationship will undoubtedly allow the people of both countries to reap the benefits and create many more opportunities for sustainable economic growth, peace and friendship!

China Mobile said the decline in operating revenues followed the scrapping of roaming fees, a nationwide move that started from July this year. The company said it also faced tremendous challenges from rising market competition and rapid declines in data values.