Japan said Tue its bid to build a major railway in Indonesia had been rejected, with China bing awarded the project that did not involve the Indonesian government taking on any financial burden, or guaranteeing the project.
Chinese President Xi Jinping will make his first state visit to Britain 20-23 Oct, the British government said on Tue, 10 years after the last such visit by a Chinese president. China鈥檚 central bank agreed with its counterpart in Zambia to set up a RMB clearing bank. The bank to handle the business will be announced later, PBoC said Tue. The clearing bank will be able to provide Zambia with RMB liquidity by directly accessing China鈥檚 onshore currency market.
China will set an annual cap on cash withdrawals overseas using domestic bank cards, state media said Tue as fears over capital outflows intensify. China UnionPay will limit annual withdrawals to RMB100,000 each year, effective from 2016.
China鈥檚 economic planner NDRC has approved construction projects to expand rail transit systems in three major cities with a total investment of RMB464.7 billion (US$73 billion) on Tuesday, in the latest effort to stem a slowdown in economic growth. The projects will expand the rail transit systems of capital city Beijing, Tianjin and Shenzhen.
