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Calligraphy enthusiasts write with brushes during a tourism festival celebrating traditional culture in Zizhong, Sichuan province, on Sunday. [Photo by Huang Zhenghua/for China Daily]

CNPC has also been aggressively expanding its shale gas capacity, in line with the national policy of exploiting shale reserves as a cleaner energy source to replace coal.

CNBC correspondent Evelyn Cheng reported in another story on June 1 that several analysts agree a reality is emerging for businesses: In the face of a global recession, China looks set to be one of the few countries that will expand, economically and politically.

CHENGDU - US-born panda Bao Bao celebrated her fourth birthday in southwest China's Sichuan province Wednesday.

CHJ founder Li Xiang warned at a conference held earlier in April of the challenging fundraising environment, with investors more cautious about the industry, Chinese business publication Caixin reported.