China to Implement New Financial System
China will to implement a new financial system where the expenditures of townships will be directly governed by the provincial governments. A report from the National Development and Reform Commission states that the new system will reduce the amount of administrative work and effectively reduce costs as well.

GD Starts Construction on Natural Gas Network
Guangdong today (1st) starts to build a major network for transmitting natural gas to 7 cities: Guangzhou, Foshan, Shaoguan, Dongguan, Huizhou, Qingyuan and Zhaoqing. The first stage of the construction is expected to be completed by July next year and by then, the network will stretch over 467Km.

China holds the most of u.s. treasury
The latest data from the US Ministry of Finance indicates that as of the end of 2009, China remained the country owning most of the United States national debt, possessing 894.8 billion USD in US Treasury Bonds, a number much higher than the previously estimated figure, which was around 755.4 billion USD.

photo from: business.sohu.com