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China's rise to alter global configuration

Even if China realizes its second centennial goal of "building a prosperous and strong, democratic, civilized, harmonious socialist modern country" in 2049, the US will not necessarily lose its superpower status.

Li's visit to boost ties with Latin America

Premier Li Keqiang has embarked on a visit to Brazil, Colombia, Peru and Chile from May 18 to 26 and will push forward China's diplomatic efforts to strengthen ties with the region. The premier will seek to deepen cooperation with constructive partnerships with Latin American countries during his four-nation visit.

More work needed to get fugitives back

Michael Ching Mo Yeung, a real estate developer in Vancouver, Canada, is reported to be Cheng Muyang in reality, whose name figures on the list of 100 most wanted Chinese economic fugitives issued by Interpol last month. The 45-year-old Cheng, the son of former Party chief of Hebei province Cheng Weigao, fled to Canada in 2000 and was put on the Ministry of Public Security's wanted list a year later for alleged corruption.

Japan moves ahead on the military path

Arms dealers from around the world flocked to Yokohama last week for Japan's first post-World War II ammunition exhibition because they had enough reason to believe the country was emerging as a new big buyer of weapons.

BRICS bank may open by year end

The BRICS Development Bank will be operational as early as the end of this year or the beginning of 2016, and membership will not be limited to the group's five-member nations, Vice-Finance Minister Shi Yaobin said on Friday.

Head office takes shape in Shanghai's financial area

Work on the new office of the BRICS New Development Bank was completed on Friday in Lujiazui, the financial district of Shanghai, and is expected to start functioning soon.

CSRC expands scope of money market funds

The securities regulator on Friday broadened the investment scope for money market funds in an attempt to encourage innovation while maintaining effective risk management.

PBOC allays fears over bond swap plan

The 1 trillion yuan ($161 billion) debt-for-bond swap plan will not involve massive liquidity injection into the financial market, and the central bank remains confident about its success, a top official said.

IN BRIEF (Page 6)

Carriers scramble to answer Li's call

Domestic telecommunications carriers on Friday raced to cut charges for broadband Internet, mobile data traffic and roaming services after Premier Li Keqiang called for cheaper, faster Web connections for the country.

Tariff cuts likely to spur 4G usage

Lower Internet charges will help increase the number of 4G subscribers in the country, experts said.