Premier Wen: China to send another purchasing mission to Europe
Yesterday in Prague, during a summit between China and the EU, Premier Wen Jiabao announced that China will soon send another purchasing mission to Europe, similar to the one that visited the EU a few months ago, bringing back deals worth $15 billion.

China's foreign financial assets rose 23% to $2.92 trillion
According to the State Administration of Foreign Exchange (SAFE), at the end of 2008, China's foreign financial assets increased by 23% from a year earlier, to reach 2.92 trillion U.S.D. whilst net foreign financial assets rose 31% year on year to hit 1.52 trillion dollars. Again, by the end of 2008, direct foreign investment stood at 169.4 billion U.S.D, accounting for around 6% of the country's total foreign financial assets.

China ranks 20th in IMD world competitiveness report
According to a report released yesterday by a leading global business school IMD, China's overall competitiveness in the world ranks 20th, falling three places compared to last year. According to the IMD, China has been performing quite well in a number of areas, notably in the domestic economy, international trade, employment, public finance, labor market and scientific infrastructure.

Guangzhou Group nets Changfeng
Guangzhou Automobile, the most profitable Chinese auto major, will take a 29% stake in SUV maker Hunan Changfeng Motor Co. Guangzhou Auto seeks to expand nationally and strengthen domestic sales, so this deal is seen as the first major consolidation effort after the government issued an industry plan earlier this year, aiming to dramatically cut the number of Chinese auto manufacturers.

Guangzhou to Hold First Asia Energy Forum
On Aug. 9 this year, Guangzhou is to hold the first Energy Forum Asia, and Wu Jianmin, a well-known diplomat and social activist, has been designated its secretary general. The theme of the forum is "Energy Revolution: Growth, Green and Cooperation", and its goal is to establish a permanent communication mechanism to explore strategic approaches to establishing a low-carbon economy in Asia.