PetroChina said the policy would not affect the continuity of its business and regarded it

as conducive to the healthy development of its business and improvement of its financial position.

Last month, China announced plans to lower its VAT rate. Starting

from April 1, the VAT rate for refined oil products dropped from 16 percent to 13 percent.

Consumer durables and home appliances giant Haier is making great efforts to meet the growing demand of the Indian mark

et and help improve living standards of local people by introducing smart electronic products.

After 15 years of operations in India, the Chinese giant recently held

the groundbreaking ceremony of its second industrial park in India, which is expe

ted to be the biggest ever in the country, in Greater Noida in northern state of Uttar Pradesh.