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    1. China is seeing mixed results in its effort to enlist friendly states in its push to exclude the U.S. and its allies from the festering South China Sea dispute, underscoring the limits of Chinese diplomacy despite its massive economic clout.

    2. China sends more anti-graft inspectors into military

      AFP via Yahoo! NewsMay 06 02:45 AM

      China has sent a new wave of inspectors into its military to crack down on corruption, state media said Friday, as Communist chief Xi Jinping seeks to impose his authority on the People's Liberation Army. Ten teams of inspectors newly appointed by the Central Military Commission (CMC) will work among its 15 departments and the PLA's five regional headquarters, the China Daily reported. It is the...

    3. China eyes consolidation at Rio, excellence at Tokyo

      Reuters via Yahoo! SportsMay 05 12:32 AM

      China aims to consolidate its existing strengths at this year's Olympics in Rio de Janeiro before striving to achieve a "leading position" at the next summer Games in Tokyo in 2020, the country's sports ministry said on Thursday. Chinese athletes bagged the most gold medals at the 2008 Beijing Olympics, a feat accompanied by a wave of national pride, the culmination of China's "100 year dream ...

    4. China claimed today that it was a “series of tricks” played by the U.S. military that prompted the communist nation to refuse a port visit to American warships in Hong Kong recently, but said that the military snub should not be blown out of proportion. “Normally, China does not articulate its reasons, and this has been considered as a diplomatic gesture of expressing its dissatisfaction as well...

    5. China has lodged a diplomatic protest with the United States after a U.S. government commission said Chinese violations of religious freedom last year remained "severe", the Foreign Ministry said on Thursday. The U.S. Commission on International Religious Freedom, a bipartisan U.S. federal government body, said in a report this week that there were "systematic, egregious and ongoing abuses" in ...

    6. China tightens oversight of bank bill business after fraud

      Reuters via Yahoo! FinanceMay 06 02:51 AM

      China has told banks to step up checks on their bill financing businesses to curb risks, after the sector was hit by several cases of bill fraud costing many millions of dollars. Chinese officials have warned against systemic risks as banks struggle to cope with rising bad loans as the economy slows. Some banks have suffered heavy losses due to lax internal controls and other irregularities in ...

      China's central bank says to keep prudent moneta... - Reuters via Yahoo UK & Ireland Finance

    7. China national rail company 'owes more than Greece'

      AFP via Yahoo! NewsMay 05 07:01 AM

      China's state-owned rail corporation is more than $600 billion in debt, reports said, almost twice the size of Greece's obligations. The China Railway Corporation (CRC) operates the country's trains, including an already world-beating 19,000-kilometre (11,800-mile) high-speed rail network, with at least another 11,000 kilometres planned. In comparison, Greece, whose debt crisis has threatened ...

    8. China’s asset managers were warned of “Ponzi scheme” risks from pooling investor funds intended for different products, as an industry association said a joint venture between Citic Trust and Citic-Prudential Fund Management was being punished for violating restrictions on such practices.

    9. China has begun a trial run of its first magnetic levitation train, completely designed and built by local firms, marking a major leap in the technological capability of the country's rail transport sector, the official Xinhua news agency reported. The so-called maglev, with a maximum speed of 100 kilometres per hour, began ferrying passengers on the 18.5-kilometre-long line in the southern city...

    10. China gave approval for a state-owned cable company to provide broadband Internet services, paving the way for the firm to jump into a market dominated by the nation’s three mobile-phone carriers.

      China Announces Reforms to Salt Monopoly - The Wall Street Journal

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