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Encouraged by the rollout of preferential national policies to promote outbound investments, Chinese enterprises are busy shopping for foreign mergers and acquisitions.

China's steel industry association said on Friday that it plans this year to unify the spot and long-contract prices for the country's iron ore imports. Iron Ore Price Talks

The first half of the year has seen fewer donations to the nation's charities as donors are cash-strapped by record aid to the Wenchuan earthquake victims last year and the financial crisis.

Chinese automobile firms are making a beeline to the capital market to raise capital for their expansion and to cash in on the vehicle boom in the domestic market.

China cut gasoline and diesel prices by 220 yuan per ton, or 3 percent, effective today, to reflect the drop in international crude prices.