介绍:
China takes new steps to boost growth
China has announced new measures aimed at bolstering economic growth.
These include plans to build railways, roads and airports along the Yangtze River - which connects China's less developed inland provinces to Shanghai.
Meanwhile, China's central bank says it will encourage banks to lend more to exporters to boost shipments.
The moves is the latest in a series of steps taken in recent weeks.
China's economy expanded by 7.4% in the January-to-March period, from a year ago, down from 7.7% growth in the final quarter of last year.
China's forex reserves rise to $4 trln
China's foreign exchange reserves have risen to around 4 trillion U.S. dollars.
The figure is more than triple the amount for Japan, the world's second largest holder of forex reserves.
China's forex reserves grew by 3.7 trillion U.S. dollars from 2001 to 2013, while the country's current account surplus and capital inflow through direct investment together totaled 3.8 trillion U.S. dollars.
This indicates that China's forex reserve surge is mainly a result of real economic activities instead of hot capital inflows.
MSCI not add China A shares to emerging index
Anchor:
New York-based equity index provider MSCI has announced it will not add China's mainland-based A shares to its benchmark emerging markets index for the time being.
But, at the same time, MSCI says mainland shares will remain on review for a possible move next year.
China's current share of the index is composed of shares listed in Hong Kong, or listed on the mainland and denominated in U.S. or Hong Kong dollars.
China's A-shares are the renminbi-denominated shares of companies incorporated on China's mainland and traded on the Shanghai and Shenzhen exchanges.
For more on this, Paul James spoke earlier with Cao Can, CRI's financial commentator.
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Back anchor: Cao Can, CRI's financial commentator
China's Alibaba debuts U.S. e-commerce site 11Main.com
China's largest e-commerce company Alibaba is debuting its first U.S. online venture, 11Main.com, an invite-only online marketplace that showcases small business retailers.
Alibaba has plans to list in the U.S., but is just beginning its foray into U.S. e-commerce.
Some analysts believes Alibaba won't find it easy to break into the crowded online shopping industry dominated by Amazon and eBay.
11Main.com, based in San Mateo, California, will feature "hundreds of thousands" of products from 1,000 to 2,000 upscale specialty shops and boutiques around the country.
Analysts say Alibaba's initial public offering — planned for later this year — could raise up to 20 billion dollars.
Alibaba invests in 21st Century Media Group
Along with its overseas plans and dealings, Alibaba is involved in a 500-million yuan, or some 80-million-US-dollar plan to buy a stake in Guangdong-based 21st Century Media Group.
Three other Chinese companies are also involved in the purchase.
The deal means Alibaba now owns 20 percent of 21st Century Media Group.
Alibaba has also inked a deal to strengthen the logistics capabilities of China Post.
The two will collaborate in a number of areas including finance and information security.
They'll also share each other's dispatch and warehouse networks to cut delivery costs for e-commerce vendors and online shoppers.
China Construction Bank to get yuan clearing role in London -FT
China Construction Bank, China's second-largest lender, has reportedly been selected to become the first clearing service for renminbi trading in London.
The Financial Times cited people close to the decision saying Chinese Premier Li Keqiang is expected to announce the deal when he visits London for an annual summit next week.
The paper says the clearing bank will help secure London's position as a global centre for foreign exchange trading.
Britain and China signed an agreement last month to set the service up, days after Germany clinched a similar deal.
Hong Kong is by far the largest centre for offshore yuan deposits, according to consultancy PwC.
Belgium gas talk failed again
The EU, Russian and Ukraine have failed again to solve a gas price dispute.
But they say they will keep talking ahead of a new deadline on Monday when Gazprom, Russia's biggest gas producer, is threatening to cut off Ukraine's supplies.
European Energy Commissioner Guenther Oettinger.
"I will invite both sides to hold discussions as soon as possible, in the next 48 hours, to set another round of talks and not waste time."
Russian Energy Minister Alexander Novak also expressed openness to further negotiations:
Kiev paid 786 million US dollars at the start of last week but has since said it will only pay more when an overall deal is struck.
Gazprom extended the deadline for Kiev to agree to prepay for gas to next Monday, or face the cutting of the gas supply from Russia.
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