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China's Hainan to run pilot zone for building international tourist islandHAIKOU, Aug. 29 (Xinhua) -- South China's Hainan Province will set up a pilot zone to spearhead its drive for developing an international tourist island. The zone will be located at Longwan development area in Qionghai City and will cover 38 square kilometers after two phases of construction. The first phase will requirement an investment of up to 100 billion yuan (14.7 billion U.S. dollars), according to a meeting of the leading group for building of Hainan international tourist island held here Sunday.

China's foreign direct investment (FDI) for July surged by 29% from a year earlierThe figure represents the second highest monthly growth this year and highlights the confidence of foreign businesses operating in China despite recent suggestions about a challenging investment climate

Chinese tourists flock to Japan, boost economySnapping up four Japanese luxury Seiko watches, a 36-year-old Chinese tourist plunks down $4,500 in cash at a glitzy store in downtown Tokyo.

350m migrant workers by 2050, report saysChina's population of floating migrant workers reached a record 211 million by 2009 and will hit 350 million by 2050 if government policies remain unchanged, according to a report released on Saturday.

Labor woes may spur further automation moves at homeRecent wage disputes and labor shortages in areas of China may speed up automation for some domestic manufacturers as a possible option to offset increasingly expensive labor.

Chinese firms told to invest more in AfricaChinese companies have been told to shift their investment focus from infrastructure and energy resources to Africa's agricultural and manufacturing sectors.

China unveils regulations to boost foreign investment in central regionsChinese Ministry of Commerce released regulations concerning foreign investment in China's central region. The region - which includes the provinces of Shanxi, Anhui, Jiangxi, Henan, Hubei and Hunan - should attract high-end green industry with policy incentives and guidance, the regulations say.

There are 875.000 millionaires in ChinaThe Hurun Research Institute published the 2010 Hurun Wealth Report today for the second consecutive year. The report analyses the number and distribution of China’s wealthy across the nation’s major cities and provinces.