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July, 1, 2016

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China
SOE reforms to speed up, target five sectors
China has been mulling over new measures to smooth the ongoing reforms to combine more State-owned enterprises (SOEs), as part of a sweeping plan to cut overcapacity and improve efficiency in the lumbering state giants, the China Securities Journal reported on Thursday.
 
China plans to invest more than 2.8 trillion yuan ($421.68 billion) into railway construction, building no less than 23,000 kilometers of new rail lines during the 13th five-year plan period (2016-2020), the Economic Information Daily reports.
 
China CITIC Bank Corp Ltd and Uber Technologies Inc announced the launch of a co-branded credit card on Wednesday, taking the first step toward a strategic partnership globally.
 
China Mobile says its internet-of-things sales to hit $15b
China Mobile Communications Corp, the world's largest telecom carrier by subscribers, aims to grow its internet-of-things revenue to 100 billion yuan ($15 billion) by 2020, as technological advances make it possible to put home appliances, vehicles, shoes and other items online, a company executive said.
 
IoT to reform service sector: ZTE
"Internet of Things" will not only trigger the fourth industry revolution, but also drive the future improvement of the agriculture and service sectors.
 
Beijing will reject any ruling by an international tribunal in a contentious case brought by the Philippines over the South China Sea, the foreign ministry said, as tensions mount over the disputed waters.
 
Mainland dam water release footage taken from drone's camera
A photographer used a drone to capture spectacular images of cascades of water gushing from a dam in central China, an annual event attracting thousands of tourists.
 
China's local consumer brands gain more market share
The growth rate in the value of fast-moving consumer goods in China reached a five-year low of 3.5 percent in 2015, according to an industry report.
 
The chief executives of China-headquartered companies are prioritising innovation to drive growth and have highlighted it as one of their top strategic priorities, ahead of their global counterparts, a KPMG report reveals.
 
Real estate bubble bursting a big risk: CASS
The economic growth rate in the second quarter stood at 6.7 percent, which is consistent with the first quarter, according to a report by the National Academy of Economic Strategy and the Chinese Academy of Social Sciences (CASS).
 
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