$60 million

Apple Inc. has agreed to pay $60 million to Proview Technology (Shenzhen) to settle their dispute over the iPad trademark on the Chinese mainland, the Higher People's Court of Guangdong Province announced on July 2.

25 million tons

China loses about 25 million tons of grain every year due to improper storage, said an official from the Ministry of Agriculture. That amount is about equal to the annual wheat production of Australia, one of the world's major cereal exporters.

120,000

Guangzhou, capital of Guangdong Province, will only allow 120,000 passenger vehicles to be registered over a one-year trial period starting July 1, 2012 to ease the city's traffic jams and cut pollution.

50 yuan

Starting on July 1, households in Bejing whose monthly electricity consumption falls between 241-400 kwh will have to pay 50 yuan ($7.9) more for every 1,000 kwh of electricity, for residents consuming less than 240 kwh of electricity a month, the price will remain unchanged.