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As data released by the company on Tuesday showed, Sinopec produced 123.68 million barrels of crude oil from Jan-June, up 0.42 percent year-on-year; output of gasoline rose by 5.74 percent to 30.04 million tons, while diesel's production declined by 1.78 percent, from last year's 32.67 million tons to 32.09 million tons this year.

As an important institutional innovation, China's FTZs explore new ways to deepen reform and opening-up as well as accumulate new experience. They have contributed to attracting foreign investment, said Chen Wenling, chief economist at the China Center for International Economic Exchanges in Beijing.

As a permanent member of the UN Security Council and the world's largest developing country, China has been supporting the UN's work, Li said. China will participate in UN missions in various fields - such as politics, peacekeeping and development, and economic affairs - in comprehensive and in-depth ways, the premier said. The country will fulfill its international obligations and promote world peace, foster global development and safeguard the international order, he said.

As for monetary policy, the policy stance can remain accommodative in much of the region given that inflation is generally still muted. Nonetheless, central banks should be vigilant, since our analysis suggests that much of the undershooting of inflation targets in Asia has been explained by temporary, global factors, such as commodity prices and imported inflation, which could reverse.

As bigger and bigger businesses take the plunge into cloud computing, Amazon Web Services is turning into a pretty big business in its own right.