Now is the lean season for oil consumption. Overall energy demand remains weak. Investors will still focus on the basic supply and demand."

Gao Jian, an oil analyst with Shandong-based bulk commodity information company Sublime China Information Group Co Ltd, says that OPEC's output reduction is unlikely to have substantial impact on oil prices in the long run.

"We will look into the possibilities of mergers and acquisitions abroad. This is not only to satisfy domestic demand, but also part of the company's strategy to have a global presence."

Deng Cheng, vice-president of New Hope Liuhe Co Ltd.

"Chinese consumers are becoming more sophisticated, and are opting to buy more premium products that are fueling the value growth of these sectors. This presents brand-new opportunities for both international and domestic players."

Jason Yu, general manager of Kantar Worldpanel China.

(China Daily European Weekly 10/07/2016 page24)