China In 3 Minutes

July 8: France returns stolen antiques; stocks rout hits car purchases

PUBLISHED : Wednesday, 08 July, 2015, 10:23am
UPDATED : Wednesday, 08 July, 2015, 11:06am

Politics and policy

General Secretary Xi Jinping led all seven members of the Politburo Standing Committee of the Communist Party in a visit to an exhibition at the Museum of the War of Chinese People's Resistance against Japanese Aggression on Tuesday, which marked the date of the start of the second Sino-Japanese War in 1937. (Xinhua)

Li Xiaolin, daughter of former premier Li Peng, has officially assumed the position of deputy manager of China Datang Corporation, one of the five biggest state-run power generation enterprises. She was previously the deputy manager of China Power Investment Corporation, another large state-run electricity company. Read full SCMP report


France has secretly returned four 2,000-year-old solid gold antiques looted from China and bought by a billionaire luxury tycoon. Chinese authorities have been discreetly demanding their return via diplomatic channels for the past 10 years. (The Telegraph)

Vice Premier Wang Yang said China stands ready to work with Russia to improve both countries' ability and competitiveness in scientific and technological innovation, at the opening ceremony of the sixth International Industrial Trade Fair held in the Russian city of Yekaterinburg. (Xinhua)

All sides are working hard to resolve the remaining six or seven issues in the Iranian nuclear talks, Chinese Foreign Minister Wang Yi said after meeting foreign ministers of western countries and Iran in Vienna. (Xinhua)

Economy and business

An increasing number of car buyers in China are cancelling their purchases and risking forfeiture of their down payments as a result of the stock market rout, according to China’s Passenger Car Association. (Bloomberg)

Tests of the first bullet train based on China's own standards and technologies began in Beijing on Tuesday, according to China Railway Corporation, as the country moves toward replacing all foreign-standard models. (China Daily)

China Securities Finance Corp (CSF), the state margin lender to brokerages, plans to issue 80 billion yuan (US$12.88 billion) of short-term bills in the interbank market, the official Securities Times reported, citing unidentified sources. The biggest ever bill issuance by the CSF is due to be approved by the People's Bank of China. (Reuters)