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The companies and their underwriters will confirm IPO dates and publish their prospectuses following discussions with the stock exchanges.

The company announced on Tuesday a plan to provide initial funding of 100 billion yuan to research over the next two years, covering key areas such as physics, chemistry, biomedical, economy, digitalization and artificial intelligence. The research results will be widely applied in 59 distinctive towns.

The common theme they signify is that for Pan, quality means a lot, be it educating farmers on how to care for cattle in a way that they produce top-quality milk, or associating with leaders of companies known for making quality products.

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The company has also developed a shopping software called eMyan, short for Express Myanmar, for regular customers. Since it went into operation in Myanmar in 2017, the software has generated 2.17 million orders, with a total trade volume of 580 million yuan (about million).

The company also plans to produce 427.5 billion cubic feet of natural gas during the same period.

The combined profits of China's SOEs rose by 5.3 percent on a yearly basis to 3.2 trillion yuan between January and November, while the profit gained by central SOEs amounted to 2.09 trillion yuan, up 7.7 percent from the same period a year ago, according to the Ministry of Finance.

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The comments came ahead of the much-anticipated Central Economic Working Conference, a high-level meeting that will set the policy tone for next year, later this month and discussions on whether the GDP target should remain above 6 percent or be allowed to slip further.

The comments came after several US government departments urged the Federal Communications Commission (FCC) to revoke China Telecom's license to provide international telecommunications services to and from the US.

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The closing ceremony of the 11th China-ASEAN Youth Camp and fourth China-ASEAN Youth Summit was held in Beijing on Monday.

The company has steadily pushed forward its new energy business, including offshore wind power, while advancing studies in fields of hydrogen energy, geothermal energy and natural gas hydrate, towards a sustainable development of the country.