Helped by its massive natural resources, Australia has weathered the global financial crisis better than other Group of 20 economies. In 2012, its economy grew 3.1 per cent, compared with 1.6 per cent in the United States and 1.1 per cent in Canada.
Our editors will be looking ahead today to these developing stories ...
Spotlight on CY Leung at new HQ's first Exco meeting
The Executive Council holds its first meeting at the new government headquarters on the Tamar site in Admiralty. The spotlight will be on Exco convenor Leung Chun-ying, who is expected to resign to run for election as chief executive. The new headquarters' controversially small protest zone - 24 square metres - will also welcome its first batch of protesters, a group of elderly people petitioning for an increase in dental services.
Focus on innovation by state-owned enterprises
The research head of the State-owned Assets Supervision and Administration Commission speaks in Beijing on the role of state-owned enterprises in making China an innovative country. Once on the verge of extinction in the years of opening up and reform, many of the surviving SOEs have been rallying in recent years. Some foreign business groups, including the US Chamber of Commerce, note that Chinese SOEs are increasingly competing in markets abroad and are beginning to compete in the US market.
Qantas strike affects 6,000 passengers
Australia's national airline, Qantas, will cancel 28 flights and delay a further 27 due to a strike by ground staff. The disruption will affect more than 6,000 passengers. The strike will hit most of the major Australian airports during today's morning peak period, with 3,800 baggage handlers and other ground staff to walk off the job for four hours over stalled contract negotiations. Delays could linger for up to two days due to bans on paperwork and other jobs that will accompany the Transport Workers Union strike.
Statistics bureau to explain its figuring of numbers
The National Bureau of Statistics runs the second China Statistics Open Day to explain to the public how government statistics are produced. The public has been suspicious of the reliability of government numbers, especially those on inflation and house prices, for being seemingly at odds with people's experience in real life.
Central bank's minutes to give insight on Australia
Minutes from the Reserve Bank of Australia are due out. Despite a bonanza caused by China's insatiable appetite for iron ore and coal from Australia, the central bank is increasingly concerned by signs of a growing gulf between the commodities sector and the rest of the economy.
Human rights court rules on Khodorkovsky claims
The European Court of Human Rights will rule on the case of former oil tycoon Mikhail Khodorkovsky (right), who has complained of irregularities in court proceedings that led to the liquidation of his company, Yukos, in 2007 and that his punishment for alleged tax irregularities was selective and arbitrary. Khodorkovsky, once Russia's richest man, was arrested in 2003 in Siberia. Kremlin critics say his arrest marked a turning point in Vladimir Putin's 2000-08 presidency when hardliners were given the upper hand.