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China Eastern Airlines opened a subsidiary Saturday in Xiamen, East China's Fujian province. [Photo/Chinanews.com]

China Newsweek cited data showing the three telecom carriers has spent at least 800 billion yuan in 4G network building by the end of 2017, and generally have not yet recovered the cost.

China and the CEE countries will make a stronger contribution to the Belt and Road Initiative by strengthening interconnectivity, international cooperation in industry and coordination of development strategies, said Pan Guangwei, executive vice-president of the China Banking Association, at a summit on frontier issues in the financial sector held by the Asian Financial Cooperation Association in Budapest, Hungary on Wednesday.

China also uses multilateral platforms such as the Xiangshan Forum and the Shangri-La Dialogue to discuss security and defense cooperation with Asia-Pacific members and others.

China Petroleum and Chemical Corp, also known as Sinopec, has developed the Fuling shale gas field in the southwest municipality of Chongqing. By end-May, it had produced more than 17 billion cubic meters of shale gas, with total sales of 16.5 billion cubic meters. The field's gas sales reached nearly 5.8 billion cubic meters last year, an increase of 20 percent year-on-year, while annual production capacity reached 10 billion cubic meters, according to Sinopec.