The United Kingdom and China signed an agreement on Monday to work on setting up a clearing and settlement service for renminbi transactions in London, following the signing of a similar agreement between Germany and China on Friday.
Chinese telecom equipment giant Huawei Technologies Co Ltd posted a net year-on-year profit increase of 34 percent in 2013, thanks to strong domestic demand for speedier mobile network equipment and a rising status as one of the world's major smartphone vendors.
"It's not a question of whether Chinese construction companies will be successful in North America. It's really a question of how many," said Marc Dowdell, president of LiuGong Construction Machinery North America.
China's foreign exchange regulator said on Monday it does not see any risk in the country's relatively high ratio of short-term foreign debt to total foreign debt, noting the country had a large pile of foreign reserves to fall back on.
China's steel industry is in its toughest year in two decades, with falling prices, weak demand and overcapacity leading to mergers and acquisitions, industry experts said.
Alibaba Group Holding Ltd will form a joint venture with a Chinese department store operator in its latest push to develop its online-to-offline business.
The city of Hangzhou has proposed an online version of Shanghai's free trade zone that facilitates cross-border e-commerce, the Shanghai-based Oriental Morning Post reported on Monday.
Sanpower Group Co Ltd, a Nanjing-based conglomerate, is in talks to buy high-end British department store House of Fraser Plc for more than 450 million pounds ($749.3 million), media reports said.
Developer China Vanke Co Ltd has an unfavorable view of this year's real estate market, and it will be "cautious" about buying land, company executives said.
When doctors ask a patient to weigh a decision on treatment, it usually signals something really serious.
Premier Li Keqiang said the central government will "take seriously" the increasing pressure on economic growth and introduce "effective policies" to target the problems that local officials have complained about.
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Op Rana
Berlin Fang
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Chen Weihua
Liu Shinan
