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Analysts said economic and industrial restructuring will be key to reducing particulate matter density as smog has shrouded Beijing and surrounding areas for years.

Analysts said Sinopec's efforts are in accordance with China's ambitious goal to wean itself off coal, betting big on a shale gas boom to decrease its dependency on coal and foreign gas imports.

An overall plan should be made to prevent major risks, carry out targeted poverty reduction and control pollution, said a Political Bureau of the Communist Party of China Central Committee meeting, presided over by Xi Jinping, general secretary of the CPC Central Committee.

Andrew Wang, chief investment officer of Manulife TEDA Fund Management Co Ltd, said the company is cautiously optimistic toward the Chinese equity market, underpinned by China's resilient economy, solid growth and moderate inflation.

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