China National Petroleum Corp., the country's largest natural gas supplier, pledged to increase its output to meet surging domestic demand amid the current gas crunch caused by a colder winter.

The company has asked its major oil and gas fields to operate at full capacity and started purchasing liquefied natural gas to meet surging needs.

In addition, it will boost gas imports from central Asia to address the shortage.

The demand for natural gas has increased substantively, driven by the continuous rain and snow that fell on north China this winter.

In response, the authorities have urged major gas producers to give priority to residential needs, public facilities and transportation.

Fitch Given Go Ahead

Global rating agency Fitch Solutions announced on January 2 that it will distribute its credit ratings, data and research services on the Chinese mainland.

"We are pleased to be certified as one of 80 official foreign institutions providing financial information in China," said Oliver Putz, head of Fitch Solutions Asia Pacific.

He said China is a leader in the financial information service industry, with a market value of $25 billion a year.

The State Council relaxed regulations on the distribution of financial information services by foreign institutions in October 2012.

Putz said China-based investors and market participants are increasingly hungry for real-time financial information, offering a ready market for Fitch Solutions' products such as credit research and ratings and quantitative risk and performance tools.

Fitch Solutions is a division of the Fitch Group, as well as the distribution channel for Fitch Ratings content.