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China Poly Group Corporation, a State-run conglomerate, has vowed to close inefficient coal mines and reorganize 39 of its subordinate companies to improve profits.

China adopted new rules in 2016 to raise environmental requirements on solid waste from gold prospecting, leading to a wave of gold mine closures and output declines in the major producing provinces, including Shandong, Jiangxi, and Hunan.

China and Cambodia have maintained high mutual political trust, benefited mutually from their economic ties and coordinated closely in international affairs, Xi said, adding that China is willing to make joint efforts for greater bilateral achievements to benefit both peoples.

China and Africa, which concluded a historic summit on Tuesday, are developing a "new form of multilateralism" to build their shared future, said a renowned European scholar on Thursday in Beijing.

China Cinda Asset Management Co Ltd and China Orient Asset Management Co Ltd, two of the eight investors, will contribute around 5 billion yuan and 2 billion yuan, respectively, toward servicing debt of CSIC's Dalian Shipbuilding Industry Co Ltd and Wuchang Shipbuilding Industry Group Co Ltd. In return, they would pick up equity in the two CSIC subsidiaries.