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China National Offshore Oil Corporation, China's largest producer of offshore oil and gas, has signed a strategic framework agreement with the Abu Dhabi National Oil Company to explore new opportunities for collaboration in both upstream and downstream sectors, as well as in liquid natural gas, on Monday.

China and the EU need to jointly maintain a peaceful and stable environment for development. Peace, development, openness and cooperation are interconnected and inseparable. Without peace and stability, nothing could be achieved. Having both suffered from the miseries of war, the people of China and Europe deeply value peace. The prevalent trend for peace in the world for the past 70 years and more has been no mean feat and should be all the more cherished. China and the EU need to firmly uphold the norms governing international relations underpinned by the UN Charter, never waver from political settlement of hotspot issues, and address global challenges on the basis of consensus-building, in a joint effort to promote durable peace and common development of the world.

China National Offshore Oil Corporation and Shell Nanhai BV announced the start up of their second ethylene cracker at their Nanhai petrochemicals complex in Daya Bay, a major petrochemical production base.

China aims to lift 70 million people above the poverty line by 2020. The central government introduced a national database to analyze the number of people living in poverty after the announcement of the 2020 target. It is formulated to help precise project planning and to allocate cash resources more effectively.

China also is accelerating revisions on the catalog for guidance on industries for foreign investment and a catalog of industries advantageous for foreign investment in central and western China. Both will further encourage foreign investment, he said.