Switzerland's ban on poultry products lifted
A ban imposed by Switzerland on chicken imports from China has been lifted after seven months. Swiss officials cited the positive action taken by the Chinese to prevent antibiotic residue from finding its way into poultry as the grounds for lifting the embargo. Switzerland had hit specific poultry producers in China with bans with the last one being lifted on June 20. (China Daily, 5 July)

Asian countries to build railway linking China and Singapore
Seven Asian countries including China have planned to build a railway linking southwest China and Singapore. The railway starts from Kunming, capital city of Yunnan province, and runs through Vietnam, Cambodia, Myanmar, Thailand, and Malaysia before reaching Singapore. (Xinhua, 1 July)

NPC passes government procurement law
The Standing Committee of the 9th National People's Congress passed a law stipulating that the government shall purchase domestic commodities, projects and services, whenever possible. If the commodities, projects and services cannot be obtained or obtained reasonably within China, or if the procurement is for overseas usage or regulated by other laws or administrative rules, this law will not apply. (ChinaOnline, 2 July)

Stock markets in China among best in world: Merrill
Despite many reported corporate scandals, the stock markets in China have among the best infrastructures in the world, said Richard Margolis, a senior consultant with Merrill Lynch Asia Pacific. (People's Daily, 2 July) What does this tell us about the world's stockmarkets?

China plans to loosen rules on stakes in aviation sector
China will allow foreign investors to take higher ownership stakes in its airlines and airports, in hopes of luring money and expertise into an industry facing costly competition and expensive consolidation. Foreigners will no longer be limited to a maximum 49% stake in airports or a 35% stake in airlines. The new rules also end a requirement that chief executives and chairmen of airlines and airports be Chinese. (Dow Jones Newswire, 2 July)

Strong investment momentum continues
China's investment in fixed assets - a statistic including government spending on infrastructure - is expected to continue to grow steadily and register an estimated 12% growth this year. Total fixed asset investment is expected to increase 18% year on year in the first six months of this year, outpacing the growth of domestic consumption and exports. (Business Weekly, 3 July)

China may set up department to combat money laundering
The People's Bank of China has reportedly set up a department to fight money laundering within its haphazardly regulated and troubled financial and banking sectors. The semiofficial China News Service and state-run newspapers reported that money laundering controls for state-run and commercial financial institutions would be in place by early 2003. (Dow Jones Newswire, 3 July)

Equal treatment in stock market
Foreign securities institutions will get equal treatment with their counterparts in China as the country opens up its stock market. As a major step in this regard, the Securities Association of China (SAC), a non-government watchdog of China's securities industry, has given the greenlight for foreign securities institutions to become its members. (China Daily, 4 July)

China Premier accuses entrepreneurs of dodging taxes
Chinese premier Zhu Rongji has lashed out at wealthy tycoons for dodging taxes, saying they deprive the mainland government of badly needed cash. Analysts said Zhu's comments reflect a major effort to crack down on tax cheats as China tries to become more systematic about bringing in revenue - a dramatic shift in a nation where for years the most common way to get government services was to pay a bribe. (Dow Jones Newswires, 4 July)

China, oil firms sign contract to build natural-gas pipeline
China and 3 major foreign oil companies signed a contract to build one of the world's largest natural-gas pipelines, a project that could ultimately require as much as USD 20 billion in investment and mark a huge step forward in the country's effort to satisfy its future energy needs. (Dow Jones Newswire, 5 July)

Shanghai to build Formula One track
Shanghai is due to start building an international-standard 5.3-kilometre Formula One race track later this month. If everything goes as planned, Shanghai will be able to welcome McLaren and Ferrari racing cars in 2004. (China Daily, 5 July)

How to get RMB 8 trillion out of 'hibernation'
Residents' savings deposits have exceeded RMB 8 trillion till this day. A survey conducted by the People's Bank of China shows that only 20% of residents would love to turn the savings into investment. Therefore, guiding savings into investment field is an urgent task. (People's Daily, 5 July)

Foreign cash reserves balloon 34% to USD 242 billion
China's foreign currency reserves ballooned 34% year on year to USD 242.76 billion by the end of last month. The faster-than-expected increase, underlining robust exports and predicted stronger overall economic growth this year, paved the way for more exchange rate flexibility and relaxed overseas investment rules, economists said. (SCMP, 5 July)

Shanghai hands out first 240 'green cards' to overseas talent
Shanghai has issued the first 240 "green cards" to overseas residents after launching the scheme to attract talent from abroad. About 90% of the new card holders are Chinese students returning from abroad, while the rest include people from Hong Kong and Taiwan. (China Daily, 6 July)

PC giant Dell sets up R&D center in Shanghai
PC giant Dell set up its first research and development center outside the Untied States in Shanghai. The research and development center, which is located in the Multimedia Industrial Park in Changning District, will be home to around 270 researchers, and to 1'000 in the next few years. (Xinhua, 6 July)

Siemens settles Asia-Pacific headquarters in Shanghai
Siemens AG moved the Asia-Pacific headquarters of its mobile phone division from Hong Kong to Shanghai. Accompanying the move will be Siemens' adjustment of its strategy in this region, where China has been defined by the company as the "key focus'' for the coming years in both sales as well as research and development. (China Daily, 6 July)

All bets off for unlucky World Cup gamblers
Thousands of punters in Hunan province's Chenzhou city have been unable to collect winning bets on World Cup matches since police closed the club which had accepted their wagers. Many of the punters believe the club itself arranged the raid so it would not have to pay out any winnings, which it had planned to do at the end of the World Cup. (SCMP, 6 July)

China offers Taiwan 'concession'
Vice-Premier Qian Qichen said the mainland was ready to set aside sensitive political preconditions for the long-awaited reopening of direct trade and transport links with Taiwan. He told a high-powered delegation of Taiwan business leaders that the mainland wanted to see links restored "as soon as possible", although he did not give a specific timetable. Reports in Taiwan said Mr Qian's remarks indicated the mainland might be ready to make a concession on its long-standing demand that Taiwan recognise the "one China" principle as the basis for restoring cross-strait links. (SCMP, 6 July)