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China's consumer-oriented digital economy will gradually transform into a producer-oriented one, said Bai Chongen, dean of Tsinghua University's School of Economics and Management and a national political adviser, on Wednesday.

China's opening-up and development have brought huge business opportunities and "development dividends" for various countries, including Norway, and has made irreplaceable contributions to global economic growth, Wang said.

China's leading heavy industrial equipment manufacturers, including Guangxi-based Liugong Machinery Co Ltd, Shandong-based Shantui Construction Machinery Co Ltd and Jiangsu-based Xugong Group Construction Machinery Inc, have decided to lift the price on their loaders due to the rising cost of manufacturing materials such as steel, rubber, aluminum and iron castings.

China's cross-border e-commerce trade (including retail and B2B) reached 7.6 trillion yuan (.12 trillion) last year, according to iiMedia Research, a market consultancy. It has estimated the figure will hit 9 trillion yuan this year.

China's oil and gas sector is dominated by three heavyweights: China National Petroleum Corp, China Petrochemical Corp and China National Offshore Oil Corp, which have long been accused of monopolizing the nation's oil and gas resources.