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BEIJING - China's local governments have entrusted more of their basic pension funds for more diverse, higher-return investments as the country tackles the challenge of an aging society, an official said Friday. By the end of June, eight provincial-level regions had signed contracts to entrust a total of 410 billion yuan (about billion) in pension funds to the National Council for Social Security Fund (NCSSF), Lu Aihong with the the Ministry of Human Resources and Social Security told a news conference. Of the total, 172.2 billion yuan of pension funds had been transferred for investment, with the rest to be in place in line with the contracts, Lu said. The eight regions are the cities of Beijing and Shanghai, Henan, Hubei, Guangxi, Yunnan, Shaanxi and Anhui provinces. More regions will join at a later stage, according to Lu. An evaluation system on investment performance will be established, while information transparency will be enhanced, Lu said.

BEIJING - China's central bank on Thursday drained 10 billion yuan (.58 billion) from the financial system through open market operations.

BEIJING - For those who wonder how the world's second biggest economy will fare on its transition to high-quality development, the new term of "developing a modernized economy" deserves more attention.

BEIJING - China's imports of wheat and soybeans rose in the first seven months of the year, a spokesperson of the Ministry of Commerce said Thursday.

BEIJING - China's fixed-asset investment (FAI) in highways and waterways registered steady growth in the first 10 months of the year, official data showed.