"It's not the case that the lower the price of public resources, the better. No city can operate the subway system by merely relying on financial subsidies. The subway network in Beijing is expanding tremendously, and this momentum cannot be sustained if the price of subway tickets stays at the current low level."
A Chongqing University alumnus donated 300 million yuan ($49 million) to build an information center on the university's campus.
Photo: A worker shows a shoe-shaped pencil holder made from walnut shells at an arts and crafts factory in Lin'an, Zhejiang province, on Thursday. The factory uses the shells to make items such as massage cushions, car accessories, slippers and pencil holders, which have become popular among overseas consumers.
Pakistani Minister of Finance and Revenue Mohammad Ishaq Dar lauded a China-led funding initiative as "historic", as Beijing gathered together 20 regional members to build a bank to fund infrastructure projects in Asia.
President Xi Jinping proposes establishing an Asian Infrastructure Investment Bank to promote economic integration in the region on a visit to Indonesia. He said Beijing was ready to offer financial support for infrastructure projects in developing countries in the region, including members of the Association of Southeast Asian Nations.
Founded in 1944 at the Bretton Woods Conference as Allied victory in WWII looked increasingly certain, the World Bank is a UN financial institution that gives loans to countries for projects.
Minister of Finance Lou Jiwei previously explained the concept of the Asian Infrastructure Investment Bank:
"As long as it works and it's in response to the G20 (infrastructure objectives), it is fine."
Protesting students in Hong Kong should go home, Tung Chee-hwa, vice-chairman of the National Committee of the Chinese People's Political Consultative Conference, said on Friday.
China launched an experimental spacecraft at 2 am on Friday that will fly around the moon and back to Earth to test a key technology for its lunar program.
Hitching a ride on the experimental spacecraft China launched on Friday is a small spacecraft from Luxembourg produced by that country's space company LuxSpace.
Internet development and online security should be maintained and improved under the legal system, China's top cyberspace watchdog and specialists said on Friday.
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