In 2010, China overtook Japan to become the world's second largest economy and most experts believe it will only be two or three decades before it becomes number one, officially making the U.S. it's bitch. As shown in a recent article by 24/7 Wall St, China has already surpassed the U.S. in a number of industries that America is traditionally considered to be the world leader - you can view them above. more ›

The friend who invited me to Huaxi's 50th anniversary first advertised the weekend as some kind of helicopter festival: "Hey free helicopter rides, wanna go?" First instinct: No thanks, don't want to die in China. But then he told me it was Huaxi, now internationally renowned as "China's Richest Village" and home to one of the tallest buildings in the country, a state-of-the-art medical hospital, a fake Great Wall, and 2,000 super wealthy villagers all living in huge houses with luxury cars. more ›

• China database to track children [BBC] "China is setting up a DNA database to help trace missing children, as the authorities struggle to tackle people trafficking. By the end of the month, a network of more than 200 DNA centres is due to be set up. Thousands of children in China are stolen or sold each year."
• More on Beijing doping: cyclist, runner, walker join list [LA Times] "Five down, one to go." On the list of athletes at the Beijing Olympics who doped: German cycler Stefan Schumacher, Croation 800-meter runner Vanja Persic and Greek race walker Athania Tsoumeleka.
• China announces regulations for financial information in settlement with US, Europe [AP] "Beijing announced rules that ease controls on foreign financial information providers Thursday under an agreement with the U.S., Europe and Canada, but said those already operating in China must apply for permission to continue. The rules eliminate a requirement that foreign providers must work through a Chinese agent and reduce the amount of information they must disclose about their operations."