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China aims to increase domestic crude oil output to 200 million tons by 2020, while supply capacity for natural gas should exceed 360 billion cubic meters.

China aims to achieve a set of social and economic objectives over the next five years, according to the full text of the Party leadership's development proposals.

China and Russia have strengthened their oil and gas cooperation in recent years, including the Yamal liquified natural gas project in the Arctic region of Russia, the world's first integrated project for polar natural gas exploration, development, liquefaction and transportation. Earlier this decade, Beijing also loaned billion to Russia to help it build a pipeline from Siberia.

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

China Securities Regulatory Commission said it is also developing long-term institutional investors and deleveraging the asset management sector.