The Washington Post reports: "China on Friday accused the U.S. of militarizing the South China Sea, just days after it was revealed Beijing had deployed surface-to-air missiles on an island in the hotly disputed area. Chinese Foreign Ministry spokesman Hong Lei told reporters that patrols by U.S. military aircraft and Navy vessels, along with joint exercises involving regional partners were the true reason why concerns were growing over peace and stability....Although not one of the six governments with claims in the South China Sea, the U.S. says it has a national interest in the region's stability and freedom of navigation and overflight in and above what are some of the world's busiest sea lanes."
The Associated Press reports: "China plans to make it easier for foreigners to live and work in the country under new rules for obtaining permanent residency, the government said Friday, amid efforts to stimulate the flagging economy with more inward investment. Guidelines issued by China's Cabinet aim to expand the categories of foreigners in China eligible to obtain the Chinese equivalent of a U.S. green card....More than 7,000 foreigners have obtained permanent residency since the policy was adopted in 2004, a small fraction of the roughly 600,000 living in China."
The Wall Street Journal reports: "China's beleaguered top securities regulator is stepping down after policy missteps contributed to months of volatility and heavy selling in the country's stock markets. Xiao Gang's departure as head of the China Securities Regulatory Commission is expected to be announced 'within days,' officials with direct knowledge of the matter said Friday. His replacement is Liu Shiyu, current chairman of the Agricultural Bank of China and a former deputy governor of the Chinese central bank, the officials said. The securities commission website still listed Mr. Xiao as chairman of the agency on Friday night. Mr. Xiao wasn't available for comment."