According to Ouyang Weimin, the director of the Payment System Department of the People's Bank of China, PBOC plans to issue licenses to Chinese online third-party payment platforms to bring more competition and a higher level of security into this sector of the industry.

Li Ning has announced that the company has signed an agreement with the Italian sports brand Lotto Sport and gained a 20-year exclusive concession in China for no less than HKD1 billion.

Toys"R"Us, one of the largest American toy retailers, has opened a store at Huijin Plaza, Wuxi in Jiangsu Province.

Pu Changcheng, the vice-director of China's General Administration of Quality Supervision, Inspection and Quarantine, said in a State Council Information Office press conference that the special examination of product quality and food safety has been completed and all the goals have been achieved.