The Ministry of National Defence issued a white paper on military strategy today which highlighted the importance of preparing PLA to winning information warefare and maritime warfare. (State Council Information Office) Read full SCMP report
Premier Li Keqiang signed a currency swap deal that eases the exchange of up to 2.2 trillion pesos (about US$3.6 billion) for the next three years with Chilean President Michelle Bachelet seeking to deepen economic ties by boosting trade and investment. (Associated Press)
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The first annual meeting of the non-governmental Forum of the Conference on Interaction and Confidence Building Measures in Asia, better known as CICA, opened in Beijing as China calls on meeting delegates to promote security cooperation and mutual respect and trust. (CCTV)
Economy
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China's state-owned enterprises‘ total revenues and profits dropped 6 per cent and 5.7 per cent respectively in the first four months of this year from the same period a year before. (Ministry of Finance)
China’s top banking regulator fears the amount of non-performing loans at commercial banks will continue to rise, and warned of increased risk from real estate finance, local government fundraising vehicles and unconventional forms of debt. (Reuters)
