Wednesday

China likely to pass US as world's top trader

China is likely to replace the United States as the world's largest trader in 2013, according to a Ministry of Commerce spokesman.

"The primary force for trade improvement comes from the government's efforts at stabilizing the economy and boosting foreign trade with supportive measures," Shen Danyang said at an economic seminar in Beijing.

Data from the General Administration of Customs showed that the nation's total volume of imports and exports in 2012 amounted to $3.86 trillion, second only to the US, which it trailed by $15.64 billion, according to the World Trade Organization.

China's foreign trade has regained strength in recent months, with an increase of 8.3 percent from a year earlier, according to the ministry.

Microsoft Corp eyes China's gaming market

Microsoft Corp's joint venture with BesTV New Media Co will help the US-based software company move into China's gaming market.

The total investment of the joint venture is $237 million, while BesTV, a subsidiary of Shanghai Media Group, will take a 51 percent stake and Microsoft will hold 49 percent, according to a document filed with the Shanghai Stock Exchange by BesTV.

The new company will design, develop and manufacture gaming and entertainment software, as well as marketing and selling those software products.

Since the joint venture will be registered in Shanghai's new free-trade zone, Microsoft could legally import gaming products and services to the Chinese mainland.