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BEIJING - China's accumulated outbound direct investment (ODI) reached over .8 trillion by the end of 2017, moving up to the second place in the world rankings, according to an official report.

BEIJING - China has made steady progress in mixed-ownership reform of State-owned enterprises (SOEs), said an official with the country's top state asset regulator Wednesday.

BEIJING - China's machinery sector reported better-than-expected performance in the first half of 2017 although high costs and financing difficulties continue to weigh on profits. Profits of machinery manufacturers amounted to 857.6 billion yuan (about 7.6 billion) during January-June, up 14.69 percent year on year, according to the China Machinery Industry Federation (CMIF). The main business revenue came in at 12.51 trillion yuan, rising 11.6 percent from the same period last year, with that in agricultural machinery, combustion engines, construction machinery and instruments all seeing double-digit growth. Chen Bin, deputy head of CMIF, attributed the improvement to business innovation and transformation, as well as a low comparison base last year. But high labor and logistics costs, and financing difficulties were still a trouble for the industry, Chen added.

BEIJING - China will reduce the retail prices of gasoline and diesel starting Wednesday, the country's top economic planner said Tuesday.

BEIJING - China's gold reserves stood at 62.64 million ounces at the end of June, the State Administration of Foreign Exchange (SAFE) said Tuesday.