Yahoo said its quarterly profit surged with its sale of shares in Chinese Internet powerhouse Alibaba, and that it was seeing signs of life in its mobile Internet initiatives. Full Story

China to export 284 subway cars to US

A Chinese government-owned rail company was awarded a $566.6 million Massachusetts state contract on Wednesday to build subway trains for the "T," the nation's oldest subway system, despite concerns from local activists about China's human rights record as well as complaints from competitors that the company's winning bid was unrealistically low. Full Story

ODI 'on track for steady growth'

China's outbound direct investment is expected to grow 10 percent annually over the next five years as demand for industrial products and infrastructure surges in developed and developing markets, senior officials said on Wednesday. Full Story

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