The mayor of Tianjin raised eyebrows with a recent quote in the China Business Post lauding flexible financial policies expected for the Binhai New Area, perceived as a threat to Shanghai’s position as the financial center of Shanghai.

US Under Secretary of Commerce Frank Lavin said that China is at risk of moving backward from an open market, as China is contented with foreign direct investment and domestic technological standards, Forbes reported.

China plans to raise the salaries of civil servants and employees of public institutions as the government begins to reform the country's income distribution system to narrow the gap between rich and poor, the China Daily reported.

China will likely soon overtake Japan as the U.S.'s third-biggest export market, The Wall Street Journal reported, citing a top U.S. Commerce Department official as he began a visit to press for wider access to China's market for U.S. banks and other companies.