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China made progress in reducing its energy use last year according to a government report. Page 3

US Treasuries remain an important part of the investment strategy for China's foreign exchange reserves, though Beijing is buying less long-term debt as interest rates fall, a senior Chinese economist said. Page 4

China is attempting to build its own version of Tokyo Bay on the Bohai Gulf. Page 5

More Chinese are now working abroad, as workers find it harder to get a job in China. The number of Chinese working overseas increased by about 10 percent last year, from about 4 million to 4.39 million. Page 6

Well-qualified nannies are always in demand, although the economic recession has hit the service industry hard. Many university graduates have started applying for nanny jobs with expat families. Page 7

Increasing numbers of Chinese companies and municipalities are shopping for talent abroad. Page 6

International aircraft giants Airbus and Boeing are bracing for a rough year in China. After netting a combined 6,800 orders from 2005 through 2007, demand for planes started to drop last year, and the two companies expect the next 12 months will be much different from the last four years. Page 8

China's steel industry will continue to see an increasing amount of consolidation in 2009 to get companies through the tough times. A week ago, Baosteel, China's flagship steelmaker, said it plans to join with a smaller rival to take over and restructure a third firm. Page 9

Premier Wen Jiabao told National People's Congress deputies last week that the nation's economy is expected to achieve 8 percent growth, helped by the new policies and proper stimulus measures taken by the government. He proclaimed: "No difficulty can daunt China."

The start date of the 2010 Shanghai World Expo will not be pushed back even though the financial downturn has taken its toll, said Wan Jifei, director of the Shanghai World Expo Executive Committee last Thursday. But, he said: "The delay in construction is my biggest concern."

The country's foreign trade would grow by 8 percent year-on-year this year, compared to the 17.8 percent growth registered last year. But, hit by the global credit crisis, Chinese exporters are suffering from declining demand and increasing defaults in deals, according to the National Development and Reform Commission.

The long-awaited Growth Enterprise Board (GEB) can be expected soon as preparation work is basically complete, said Ouyang Zehua, vice director of the market supervision department of the China Securities Regulatory commission last week.

(China Daily 03/09/2009 page1)