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China Southern Airlines signed an agreement last year to sell a minority stake to American Airlines Group Inc, which belongs to another airline alliance Oneworld.
China Mobile releases its plan to offer 5G commercial services in more than 50 cities in Shanghai, on June 25, 2019. [Photo/China Daily by Gao Erqiang]
China Unicom said the service would be run by Unicom-AirNet, a joint venture it set up in April with several local partners. The company said it has built the largest satellite communication infrastructure in Asia, which will help ensure communication quality.
China Investment Corporation is also carrying out strategies similar to the other major sovereign funds. According to Tu, about 50 percent of its overseas investment portfolio will be targeted at alternative assets and direct investment by 2022 to better serve China's development strategy and provide strong support to the country's foreign exchange investment returns.
China and Portugal signed a series of cooperation documents on Monday — including a framework agreement on third-party market cooperation — to strengthen their bilateral ties.