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The combined profits of China's SOEs rose 12.6 percent year-on-year to 1.12 trillion yuan (2.5 billion) for the January-April period, the Ministry of Finance said on its website.

The company directly employed over 13,600 people in China by the end of 2018.

The company has purchased an additional 150 acres of land near its manufacturing plant in Lancaster, California, and is planning service and maintenance centers across the United States.

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The company has ambitious plans in the shale gas sector for the upcoming two decades. CNPC vows to produce 12 billion cu m of shale gas annually by 2020.

The company also has a version with a steering wheel and brake. The car will cost less than ,000 if assembly lines can produce about 5,000 to 10,000 a year, Bloomberg reported. The gyrocar's battery has a range of a little more than 60 miles, and the goal is to have removable and rechargeable batteries.

The company currently employs dozens of people from local households.

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The collaboration came about after the conservation of the two walls became a key topic during talks in Beijing and Xi'an in February 2017 and was discussed during the UK-China People-to-People Dialogue.

The company has been focusing its exploration efforts in the Xinjiang Uygur autonomous region and Sichuan province in the past year with major breakthroughs in upstream exploration and discovery, boosting supply from the aging fields at home.

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The company estimates its total revenue will hit 500 million yuan this year, with users exceeding 250,000.

The companies saw their operating profit rise 31.4 percent year-on-year in the first three quarters, which was 8.6 percentage points higher than in the first eight months, according to the bureau.