The establishment of China’s strategic oil reserve is affected by current global energy issue, since China should not import large amount of crude oil for the reserve when the world is hit by high oil prices, International Finance News reported, citing experts.

China plans compulsory commercial reserve system, alongside with government’s strategic oil reserve, to consolidate and optimize oil reserve structure, Beijing Morning Post reported.

Official report released on July 18 show an overheating economy that gives rise to further macro-control measures, Shanghai Securities Journal reported.

A major recent gas discovery deep under the South China Sea could reopen a frontier for oil and gas exploration that some multinational companies abandoned decades ago after shallower wells turned up dry, said the chairman of China National Offshore Oil Corp (CNOOC), the Wall Street Journal reported.

China National Petroleum Corporation (CNPC), China's largest oil producer, announced Wednesday that it bought Russia's OAO Rosneft 66.2252 million listed shares for 500 million US dollars at 7.55 US dollars per share, the China Daily reported.

New policy to support national semiconductor industry may be reinforced by the end of this year, said Chinese official.

Guangdong’s Department of Labour and Social Security released a report, saying that monopolized industries and companies should redistribute income and salary system, Xinhua reported.

The Chief of Machinery Industry Economic and Management Research Institute, Sun Baihai, stated that the government should realize “national products first” policy, allowing China auto brands to have a better position in government auto team, Beijing Morning Post reported.

Starting on June 11 in Beijing, Ministry of Commerce’s “Walk of Chinese Brands” campaign has entered Canton province from Fujian. China Business News investigated what officials, companies and experts’ opinions on the future of Chinese brands.

Niger has awarded licences to a group of companies from China to explore for uranium to meet the Asian country’s soaring energy demands, Reuters reported.The exploration licences announced were the first for Chinese firms in Niger's uranium sector.