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G7 backs inclusion of yuan in IMF basket of currencies

The Group of Seven countries are in fundamental agreement that the Chinese yuan should be part of the IMF's international basket of reference currencies, but there is no need to rush.

China confirms first MERS case, patient now in isolation

Doctors are keeping a close watch on the patient, and no abnormalities are found among any of the 38 people who had been in close contact with him.

Beijing plans to adopt tougher parking regulations next year

Strict measures are likely to include the need for residents to buy a parking space before purchasing a new car and that current car owners will have to prove they are paying for parking spaces.

Nation steps up efforts to combat illegal trade in ivory

Chinese government destroyed 662kg of confiscated ivory, the second such demonstration of its stance against wildlife crime.

Is China saving Hollywood's
big budget flops?

Chinese movie audiences often "go against the global tide", and the Chinese market pays an important role in saving Hollywood's big budget flops, says a recent report.

Alibaba sets up online
bad-loans auction site

Cinda, one of four State-owned managers of soured loans in China, will auction its $645 million of bad assets on Alibaba's Taobao.

Price gap to narrow for some goods thanks to tariff cut

The latest tariff rate cut, along with other factors, will eventually narrow the price gap for consumer goods between the domestic and overseas markets.

Blatter wins fifth FIFA term as challenger concedes

Sepp Blatter was re-elected president of FIFA for a fifth term on Friday after his only challenger conceded defeat in an election overshadowed by allegations of rampant corruption in world soccer.

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