Another record Golden Week, Beijing top destination

The weeklong National Day holiday again broke a record in retail revenue and in the number of tourists, despite continued controversy over the decade-old Golden Week vacation system. National Tourism Administration statistics showed that more than 18 million people visited 119 major tourist destinations nationwide between Sept 29 and Oct 5, a 13.2 percent increase from last year. Retail sales of consumer products during the holiday surged by 21 percent compared to last year reaching 420 billion Yuan ($61 billion). Beijing remained one of the top choices for travelers during the holidays.

China to Launch Securities Margin Trading Soon  

China's securities regulator announced Sunday that it will soon launch margin trading business for securities firms, which has long been expected by the market. This business, allowing traders to borrow part of the money necessary to buy or borrow a security, is in practice on most stock exchanges across the world, and will change the current one-way trade on both the Shanghai and the Shenzhen stock markets, serving as a risk aversion tool for investors.

Premier: China's Steady Growth Can Help

Premier Wen Jiabao said Sunday that maintaining "steady and fast" growth is the largest contribution China can make to help the world overcome the current financial crisis stemming from the United States. His comments came two days after the US House of Representatives approved a revised bailout plan, to save banks and stop the financial turmoil from spreading. Wen said China has also taken "precautions and active measures" to deal with the crisis that has snowballed down from Wall Street.