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Industrial and Commercial Bank of China (ICBC), the world's largest bank by market value, reported a 2.8-percent growth in first half net profit on brisk increase in lending and fee-based revenue.

Approximately 80 percent of the students polled by the China Youth Association for Network Development (CYAND) began to use the Internet before they turned nine, browsing for "cartoons, music, and games."

China drastically cut its holdings of US Treasury debt in June, but its purchase of more long-term securities indicates no significant change in its interest in US government bonds.

Foreign direct investment (FDI) fell sharply in July amid tightening supervision over inflow of hot money that might have accelerated in the past few months.

While the economic downturn has put some venture capitalists in the doghouse, figuratively speaking, one investment fund for a Chinese website catering to pet lovers has raised more than $10 million.