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Govt to invest $422b in railways over five years

China plans to invest more than 2.8 trillion yuan ($421.68 billion) into railway construction, building no less than 23,000 kilometers of new rail lines during the 13th five-year plan period (2016-2020).

SOE reforms to speed up, target five sectors

China has been mulling over new measures to smooth the ongoing reforms to combine more State-owned enterprises (SOEs), as part of a sweeping plan to cut overcapacity and improve efficiency in the lumbering state giants.

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Economy

'Policy tools can meet challenges'

China will continue to push innovation to foster new growth engines and the government has ample policy tools to respond to challenges, Premier Li Keqiang said.

Companies

Zeavion to buy early education business of America's Gymboree

Chinese-led company Zeavion Holding announced on Tuesday that it will purchase the early childhood development business of Gymboree Corporation, San Francisco-based global provider of children's apparel and early education programs, in a deal worth $127.5 million.

Industries

Regional jet airliner makes maiden flight

The ARJ21-700, China's first home grown regional jet airliner designed and manufactured by Commercial Aircraft Corporation of China, made its maiden flight on Tuesday from Chengdu, Sichuan province to Shanghai, in a flight operated by Chengdu Airlines.

Motoring

VW to fork out $15b over cheatings

Volkswagen AG's price tag to settle lawsuits in the US over its rigging of diesel emissions tests has jumped to more than $15 billion - $5 billion more than previously reported - on the eve of a settlement to be filed on Tuesday in a San Francisco court.

Technology

Haier to be innovation platform for corporate cultures to coexist

Zhang Ruimin, chairman of Haier Group, said China's largest maker of home appliances will continue to be the platform where different cultures could coexist, thrive and contribute creative inputs for innovation in the industry, in line with the government's current emphasis.

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