China made its first delivery of high-speed train parts to Europe recently, as three carriages were shipped from Shanghai to Macedonia, according to Shanghai Customs. Manufactured by CRRC Corp Ltd (China Railway Rolling Stock Corp), the carriages weigh a combined 125 tons and are valued at $5.34 million. They are designed for a maximum speed of 140 kilometers per hour and have a life span of 30 years. From January to July this year, there has been 5.29 billion yuan worth of railway equipment exported from the Shanghai Customs District, up 73.1 percent year-on-year.
According to a ranking list published by Shanghai Jiao Tong University, Harvard University has again been rated the best among 500 global institutions. This is the 13th time that Harvard University has topped the ranking survey which started in 2003. There are a total of 32 universities from the Chinese mainland in the list, with four of them ranked among the top 150. The rest of the top 10 universities include Stanford University, Massachusetts Institute of Technology, University of California, Berkeley, University of Cambridge, Princeton University, California Institute of Technology, Columbia University, University of Chicago, and University of Oxford.
Pfizer Inc was on August 26 fined 100,000 yuan for paying four drug store chains to promote its products. Authorities had also confiscated 2.96 million yuan worth of illegal revenue. This is not the first time the company has been slapped with a fine for inappropriate promotion of its products — Pfizer was in 2009 fined $2.3 billion for illegally promoting some of its drugs in the United States. The brand’s Viagra sales in Chinese mainland soared 47 percent year-onyear in 2014, with revenue growing 18 percent in the same region. This is a stark contrast to its global sales figures which are expected to drop for five consecutive quarters, according to China Economic Net.
China’s central bank has certified 28 banks that can establish free trade accounting units in the Shanghai Free Trade Zone where 22,000 accounts have been opened, Xinhua News Agency reported. There are currently about 180,000 enterprises with accounts from different banks in the free trade zone, said Zhang Yong, an official from the Shanghai Free Trade Zone administration committee. “According to related regulations, the accounts could finance 330 billion yuan from overseas banks at the most, but the actual amount loaned was only 7.5 percent,” added Zhang.
Students from five universities in Shanghai and the University of Tel Aviv from Israel were given the opportunity to demonstrate their understanding of World War II through art, and their works were on show at Shanghai’s Changning Library from August 15 to September 3. The showcase, which features 300 pieces of oil, water color and digital paintings, will also go on tour till the end of this year at major universities and other cultural locations in the city.