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China's oil majors are preparing for the day when gasoline demand dwindles and electric-powered cars rule the roads.

China's new bullet train "Fuxing" departs from Beijing South Railway Station in Beijing, capital of China, June 26, 2017. The new bullet trains, also known as electric multiple units (EMU), boast top speeds of 400 kilometers an hour and a consistent speed of 350 kilometers an hour. China's annual political sessions of the National People's Congress (NPC) and the National Committee of the Chinese People's Political Consultative Conference (CPPCC) are scheduled to convene in March, 2018. During the two sessions, development agendas will be reviewed and discussed, and key policies will be adopted. Year 2018 marks the first year of fully implementing the spirit of the 19th National Congress of the Communist Party of China, in which innovation has been labeled as the primary driving force behind development and the strategic underpinning for building a modernized economy. [Photo/Xinhua]

China's mobile phone shipments declined by 12.3 percent in 2017, highlighting the mounting pressure on domestic smartphone players, which are looking to intensify their push to go global this year, analysts said on Thursday.

China's industrial output grew 7 percent last month, quickening from the 6-percent rise in March and easily beating market expectations of around 6.4 percent, according to data from the National Bureau of Statistics (NBS).

China's investment in fixed assets rose 8.9 percent year on year in the first four months of 2017, down from 9.2 percent in the first quarter, data from the National Bureau of Statistics showed.