Editorial Summary

China's largest oil and gas producer PetroChina (601857.SH, 0857.HK, NYSE: PTR) will invest a total of RMB 60 billion before 2020 to explore and produce offshore oil, reports Oriental Morning Post quoting PetroChina subsidiary China National Petroleum Offshore Engineering Company (CPOE) deputy manager Peng Fei. Shares of PetroChina rose 2.27 percent to close at RMB 17.55 in Shanghai on Thursday, while shares of China Oilfield Services Limited (COSL) (601808.SH), whose core business is offshore oil exploration were up 2.55 percent to close at RMB 23.35.

China Railway Group Limited (China Railway) (601390.SH, 0390.HK) signed a main trunk line network construction contract worth RMB 1.7 billion with Shunde District of Foshan City, Guangdong Province, according to a company filing with the Shanghai Stock Exchange. Construction will take two years and the Shunde government will complete payment for the project in five years, said the filing. Shares of China Railway rose 3.92 percent to close at RMB 10.86 in Shanghai on Thursday.