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Citibank (China) Co Ltd said on Wednesday that it has received a domestic fund custody license from the China Securities Regulatory Commission, becoming the first US bank and the first among the top five global custodians to win such a license. The license will enable Citi to provide custodial services to mutual funds and private funds domiciled in China, after passing CSRC's on-site inspection later this year.

Chinese tourists shop for jewelry at Nha Trang Shopping Center in Nha Trang, Vietnam, on Sept 8, 2017.[Photo/VCG]

Clariant, a Swiss chemicals company, is looking for Chinese partners to commercialize its "sunliquid," which converts agricultural residue such as wheat straw into ethanol. According to Markus Rarbach, head of biofuels and derivatives at Clariant, the company's technology could be in widespread use in 2018.

Chris Field, director of the Stanford Woods Institute for the Environment at Stanford University, according to an Associated Press report, said: "It is a sad statement about the president's history on climate change, but it is a major development to see him clearly acknowledge a role of greenhouse gases from human emissions."

Ciobo added that a weaker Australian dollar had also contributed in a record rise in expenditure from tourists from the United States.