Bloogburg reports: "President Xi Jinping announced at a military meeting Thursday a major overhaul of China's military, to make the world's largest army more combat ready and better equipped to project force beyond the country's borders. Under the reorganization, all branches of the armed forces would come under a joint military command. The Chinese Ministry of Foreign Affairs also confirmed that China was in talks with Djibouti about building logistical facilities to help resupply military vessels operating off the East African coast."
The Wall Street Journal report: "China's securities regulator has launched a probe into Citic Securities Co. for suspected violations of securities rules, escalating a crackdown on the country's largest stockbroker at the center of a broad campaign to clean up the financial sector following the summer's stock-market rout."
Reuters reports: "GlaxoSmithKline Plc (GSK.L) has cut 40 percent of its sales reps in China and axed some units as it eyes a return to growth in 2016, after sales plunged during a bribery scandal that landed it with a record $490 million fine in 2014. The British firm is gambling on a new, cleaner image to reboot its performance and reputation with doctors and consumers. It is the first time Gisserot has spoken at length about the firm's progress since the high-profile scandal."