Rainstorms Caused by Goni Still Hitting GD
"Goni", the seventh typhoon this year, is slowly moving west after swirling around Jiangmen and Yangjiang for over a day. It has brought heavy downpours to the PRD and caused so far over 100 million Yuan of direct economic losses. Tonight(August 6) and tomorrow, rainstorms are forecast in western Guangdong and the PRD, whilst north-western Guangdong will remain sunny and hot. As for the 8th tropical storm named "Morakot", it's still at sea heading towards Zhejiang and Fujian provinces at a speed of 20 to 25 km per hour. It should reach the coast late Friday or Saturday and is likely to become the most devastating typhoon to hit China so far this year.

Analyst: Possibility of Interest Rate Rise Still Low
The central bank has reiterated its commitment to stick to the "moderately loose" monetary policy and will fine-tune policy with market-oriented tools in line with economic changes at home and abroad. In spite of this message, analysts believe there is still a small chance of seeing interest rates and the deposit reserve ratio rise slightly.

16 newly-elected director-generals meet citizens after SZ reshuffle
In Shenzhen, 16 newly-elected heads of governmental departments and commissions were introduced to the public yesterday (August 5). Shenzhen completed late last month an administrative reform which has reduced redundancy in government administration. After the reform, 15 departments have disappeared and the number of director-generals has been reduced by 12.

photo from sina.com.cn

Chinese shares down 2.11% on weakening coal & financial stocks
Chinese equities fell for the second consecutive day to close at 3356 points, down 2.11%. The decrease was led by weakening coal, steel and financial stocks. Combined turnover shrank to 329.2 billion Yuan from 361.18 billion Yuan yesterday.