Forex reserves up again, top $3 trillion

The Chinese mainland's foreign exchange reserves rose in June for a fifth straight month, as tightened supervision of outbound investment and a weak dollar helped curb capital outflows.

PBOC to let market forces shape rates

The People's Bank of China, the central bank, said late on Thursday that the country will allow the market to "play a bigger role in deciding the exchange rate of the yuan and increase the currency's resilience against the dollar".

Standard, ICBC back Chinese firms in Africa's B&R markets

Standard Bank, Africa's largest lender, and Industrial and Commercial Bank of China, the country's largest lender, have teamed up to extend loans and foreign exchange services to Chinese companies operating in African countries that are participating in the Belt and Road Initiative.

Shanghai underlines mass housing

Shanghai will increase land supply for the development of new residential properties in the next five years, according to the city's 13th five-year plan for land use (2016-20) released on Friday.

Losses may spur Shanxi coal recast

Mergers or restructuring will dominate the coal industry in the northern province of Shanxi after three major mining groups reported first-quarter losses, industry insiders said.

Experts say black gold prices will fall on supply boost

Coal prices are predicted to fall slightly in the second half of this year, thanks to government efforts to ensure adequate supplies, industry insiders said.

IN BRIEF (Page 7)

Better world economy needs concerted cooperation

At the G20 Leaders Summit in Hangzhou last year, the leaders of major industrialized and developing countries reached a consensus that they would play a leading role in pushing for more inclusive and sustainable global growth, further liberalize trade and investment, and strive to improve global governance.

More open govt spending

Commenting on the audit report submitted to the Standing Committee of the National People's Congress on the implementation of last year's central budget, Premier Li Keqiang said at a meeting of the State Council, China's Cabinet, on Wednesday: "What this year's audit has discovered are mainly the 'chronic problems' identified in previous years. So we should not only focus efforts on their rectification, but also try to set up a long-term mechanism to avoid their reoccurrence."

It might not be that smart, but stunt shows need for foresight

ROBIN LI, CEO of China's largest search engine Baidu, livestreamed himself traveling in what he claimed was his company's first driverless car on the Fifth Ring Road of Beijing on Wednesday. Southern Metropolis Daily comments:

Unwise to let foxes guard henhouses

A LIVE-IN NANNY IN SHENZHEN was found to have a history of mental illness after she attempted to wrestle the 7-month-old baby from her employer on June 29. Yanzhao Metropolis Daily commented on Thursday:

Smartphones cry out for too much of our attention

"THEY SAY I am their baby. But I think the smartphone is their baby, not me." This comment an 11-year-old girl wrote in her summer vacation diary was posted online by her mother, arousing heated debate. Hebnews.cn comments: