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The company will implement arrangements made by the State Council to standardize charging procedures and enhance the quality of service, making rail freight more convenient and efficient, an official with China Railway said.

The competition among online retailers will focus on logistics, supply chains and new technologies, Cao said, adding e-commerce players should expand their offline consumption offerings and apply more cutting-edge technologies.

The company was also still preparing for change of China's emissions standards from State V to State VI in the three months from January to March.

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The company said it will arrange more than 600 railway routes and 1,000 bullet trains to transport e-commerce goods to more than 80 cities, operate Fuxing bullet cargo trains between Beijing and Wuhan, Hubei province, organize cold-chain storage delivery and provide chartered train services to logistics and e-commerce enterprises.

The company plans to expand the new format in the future across high-traffic areas, including business and transportation hubs as well as new cities in China.

The company said earlier that the offshore wind sector aligns with the company's overall business, and it can apply its resources in offshore engineering and experience in offshore operations in the sector. Analysts said the grid connection of the company's first offshore wind power project illustrates CNOOC's ambitions in advancing energy transformation and implementing its green and low-carbon strategy, as the country's State energy giants, including Asia's biggest refiner－China Petroleum and Chemical Corp－and China National Petroleum Corp have all laid out plans to develop renewable projects toward a low-carbon future.

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The company's sales peaked in 2011, with some 220,000 units sold in the year. But sales have fallen ever since. Statistics show just 21,000 units sold in China from January to May in 2018, a 47 percent fall year-on-year.

The company's solutions based on blockchain tech can effectively deal with challenges facing IoT, such as massive data storage, high concurrency and high transaction costs, said Tao, also the deputy director of the Huaxia Industrial Economy Research Institute.

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The company's market share in the first half of the year was approximately 22 percent, remaining in first place in the industry, according to the company's report.

The company's three business divisions - healthcare, life sciences and performance materials - have a strong market presence in China. Last year, Asia-Pacific accounted for one-third of its global market, with an average annual growth rate of 8 percent, while the China market grew at an average annual rate of 18 percent with total revenue reaching 1.9 billion euros (.13 billion).