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China announced on Friday that it has lowered the bar for foreign companies to invest in Beijing's service businesses, including banking, entertainment and air transportation, to ease market access restrictions on foreign direct investment from Dec 10 to May 5.

China accelerated the internationalization of the yuan a decade ago. A milestone of the process was achieved in 2016, when the currency joined the International Monetary Fund's basket of Special Drawing Rights. After that, the yuan internationalization slowed, as the exchange rate policy shifted to stabilize market expectations when the yuan was facing depreciation pressures.

China Unicom and China Telecom joined hands with the State Development and Investment Corp and private data service provider GDS Holdings Ltd on Wednesday to build the next generation internet data center.The new partnership includes building big data centers and providing global users with basic big-data-related services including co-location, bandwidth renting, server renting and virtual hosting, as well as some value-added services such as data backup.The latest move reveals the two telecom giants' desire to boost competitiveness in big data to compete with their main rival China Mobile. It also echoes the country's broader efforts to accelerate the implementation of big data strategy.Efforts should be made to advance national big data strategy, improve digital infrastructure, promote the integration and sharing of digital resources, and safeguard data security, said President Xi Jinping during a collective study session of the CPC Central Committee's Political Bureau recently.He called for building high-speed, mobile, ubiquitous and safe information infrastructure, integrating government and social data resources, and improving the collection of fundamental information and important information resources in key areas."The big data center, as the key infrastructure in the digital economy era, is playing an important role in supporting cloud computing, big data and the internet of things. The four companies can make good of each partner's strengths in financial capital, telecommunications, technology and management to explore a new path," said Wang Xiaochu, chairman of China Unicom.The four heavyweights will also invest in and establish a group of key projects through merger and acquisition.

China and ASEAN countries on Thursday approved a draft framework of the South China Sea Code of Conduct, marking a milestone in peacefully resolving the South China Sea issue.

China and the United States have decided to hold the first round of a comprehensive economic dialogue on July 19, and launch the first round of a law enforcement, cybersecurity, social and cultural dialogue at an early date.