PUBLISHED : Monday, 18 May, 2015, 10:24am
UPDATED : Monday, 18 May, 2015, 12:27pm
May 18: Premier Li Keqiang on maiden Latin America trip; 128 illegal matchmaking sites shut in crackdown
SCMP online
A couple waits to participate in a staged mass wedding organised as part of a matchmaking event in Shanghai. Photo: Reuters
Diplomacy & defence
Indian Prime Minister Narendra Modi concluded his China trip with the signing of 21 business deals valued at over US$22 billion. Read full SCMP report here
China is re-engineering its long-range ballistic missiles to carry multiple warheads, in what analysts say a response to the US’ deployment of missile defense systems in the Pacific (New York Times); A Chinese state-run thinktank's analyst says report exaggerating and China is restrained on nuclear warhead development. (Global Times)
Chinese premier Li Keqiang will visit Brazil, Colombia, Peru, and Chile on his first Latin America trip. (Ministry of Foreign Affairs)
Chinese Premier Li Keqiang and his wife Cheng Hong stopped at Shannon, Ireland during their first Latin America trip. Photo: Xinhua
Economy
As China’s economy slows and Beijing becomes more relaxed about letting its companies fail, a rising number of foreign bondholders risk being caught up in the country’s unpredictable court system. (Reuters)
Falling tax revenue and the plodding pace of local governments’ refinancing through municipal bonds means that China could face a serious fiscal squeeze on the local level, forcing Beijing to intervene more aggressively to avert a Chinese "fiscal cliff". (Reuters)
Technology
Alibaba Group, Asia's largest e-commerce company, will invest heavily in existing and new ventures abroad, making its push beyond the China market a top priority, said the Chinese e-commerce leader's new CEO, Daniel Zhang. (Reuters)
Society
China's internet regulator shuts down 128 matchmaking websites over allegations including organised prostitution and fraud. (Office of Cyberspace Affairs)
China workers spend an average of 46% of their personal income on social security. (Beijing Times)
Construction workers take a nap in front of a wall of a construction site during their lunch break in Beijing, China. Photo: Reuters
A five-year-old girl from Hebei province survived from accidental plunge from 16th floor. (People.cn)