Policy digest

Cabinet releases license reform rule

Reduced rainfall eases flood pressure

Flooding in southern China should ease off on Tuesday as the rainfall that has troubled the region for more than 10 days subsides.

Senior official demoted for disciplinary violations

Zhang Xiwu, former deputy head of China's State-owned assets supervisory authority, has been demoted for "serious disciplinary violations", the country's top anti-graft authority announced on Monday.

Lam set to present HK$5b education plan

Hong Kong Chief Executive Carrie Lam Cheng Yuet-ngor said on Monday she would unveil detailed plans to raise recurrent education spending during a Legislative Council meeting on Wednesday. She called for support for the plan from lawmakers, saying she wants to address such issues in the next couple of months.

President Xi's speech at the meeting marking the 20th anniversary of HK's return, and the inaugural ceremony of the fifth-term HKSAR government

Editor's note: On Saturday President Xi Jinping delivered a speech at the meeting celebrating the 20th anniversary of Hong Kong's return to the motherland and the inaugural ceremony of the fifth-term government of the Hong Kong Special Administrative Region. The following is the full text of his speech:

Party's story remains one of success as it nears 100

Communism was called a haunting ghost more than a century and a half ago, and few believed the Communist Party of China would survive when it was founded in 1921.

CFA launches probe over club's match-fixing claims

The Chinese Football Association launched a probe on Sunday into allegations of match-fixing made by a second-tier club after a controversial penalty decision.

Preschool program teaches kids how to play soccer with a smile

In 2002, the Chinese national soccer team was inspired to reach its first - and so far only - FIFA World Cup in Japan and South Korea by head coach Bora Milutinovic's "happy soccer" philosophy.

Bond connect trading link opens

Qualified overseas investors will be able to invest in the Chinese mainland interbank bond market via the mainland-Hong Kong bond connect program from Monday, according to the People's Bank of China and the Hong Kong Monetary Authority.

IN BRIEF

Destroyer called one of world's mightiest

China launched a new domestically developed destroyer in Shanghai on June 28, marking a milestone in building a strong and modern naval force, according to the People's Liberation Army Navy.

Stable profit growth seen in near term

China's big industrial companies are expected to see stable profit growth in coming months, after a double-digit, year-on-year increase in cumulative profit from January to May laid a solid foundation for the year.