IN BRIEF (Page 4)

Manila's yuan move welcomed

China welcomes the issuance of yuan-denominated bonds in China by the Philippines, Foreign Ministry spokeswoman Hua Chunying said on Monday. Hua said in a daily news conference in Beijing that she believed the issuance will help deepen financial and investment cooperation between the countries, promote infrastructure construction in the Philippines and push forward bilateral relations. The Philippines plans to "test the debt market" in China by issuing yuan-denominated bonds starting around November, Xinhua quoted Philippine Finance Secretary Carlos Dominguez as saying on Wednesday.

Postal industry to be strengthened