NDRC fines medicine firms

China Daily (Hong Kong) - - BUSINESS -

China’s top eco­nomic reg­u­la­tor an­nounced on Mon­day that two do­mes­tic medicine firms had been fined for mo­nop­oly pric­ing prac­tices. Zhe­jiang Sec­ond Pharma and Tian­jin Han­dewei Phar­ma­ceu­ti­cal were fined a to­tal of 443,900 yuan ($65,975) for fix­ing prices for an ac­tive phar­ma­ceu­ti­cal in­gre­di­ent, said a Na­tional De­vel­op­ment and Re­form Com­mis­sion state­ment. The two com­pa­nies charged an un­fairly high price for Iso­ni­azid, an an­tibi­otic used to treat tu­ber­cu­lo­sis, and de­clined sales with no jus­ti­fied cause, the state­ment said. The two com­pa­nies have since re­stored reg­u­lar pric­ing and re­vived mar­ket com­pe­ti­tion. Mo­nop­oly prac­tices in the phar­ma­ceu­ti­cal sec­tor have been a fo­cus of China’s anti-mo­nop­oly su­per­vi­sion for some time. The case will help reg­u­late ac­tive phar­ma­ceu­ti­cal in­gre­di­ent pric­ing and en­sure a fair en­vi­ron­ment for medicine pur­chases and sales, ac­cord­ing to the NDRC. The NDRC has vowed to in­crease anti-mo­nop­oly su­per­vi­sion to pro­tect mar­ket or­der, con­sumers and busi­nesses. ince, with a to­tal in­vest­ment of 1.8 bil­lion yuan ($267 mil­lion). The air­port in Wein­ing is de­signed to han­dle up to 350,000 pas­sen­gers and 1,050 met­ric tons of cargo every year by 2025, ac­cord­ing to the Na­tional De­vel­op­ment and Re­form Com­mis­sion. Guizhou is one of the least-de­vel­oped parts of China, with trans­port in­fra­struc­ture lag­ging far be­hind de­vel­oped ar­eas. The project is ex­pected to im­prove re­gional trans­port, en­hance emer­gency re­sponse sup­port and boost re­gional eco­nomic de­vel­op­ment. China be­gan an air­port con­struc­tion boom in 2008 when the gov­ern­ment be­gan mas­sive spend­ing on in­fra­struc­ture to off­set the global fi­nan­cial cri­sis. By the end of 2015, China had 207 civil air­ports and is ex­pected to have around 260 by 2020. 45.5 per­cent of an­nual cost re­duc­tion goals, ac­cord­ing to the Min­istry of Trans­port. The de­crease was prompted by a num­ber of mea­sures, in­clud­ing the can­cel­la­tion of cer­tain road tolls in pro­vin­cial-level re­gions and a pilot of in­ter­net-based freight bro­ker­ages. Fixed-as­set in­vest­ment in high­ways and wa­ter­ways rose 23.8 per­cent year-on-year to 967.3 bil­lion yuan in the first half, more than half the an­nual in­vest­ment goal of 1.8 tril­lion yuan. Low­er­ing lo­gis­tics costs is part of China’s ef­forts to lower the cor­po­rate bur­den and eco­nom­i­cally up­grade. The gov­ern­ment has pledged to re­duce taxes, clear fees and step up con­struc­tion of na­tional-level lo­gis­tics hubs. meet en­vi­ron­men­tal stan­dards and have been ren­o­vated. Four whole­sale mar­kets for con­struc­tion ma­te­ri­als and home ap­pli­ances have been shut down. By 2020, the Tongzhou gov­ern­ment will dis­man­tle 13 whole­sale mar­kets. ment and en­hanced con­fi­dence have trans­lated into im­prove­ments in wealth man­age­ment client ac­tiv­ity lev­els,” UBS said in a state­ment. Chief Ex­ec­u­tive Ser­gio Er­motti said: “Con­sid­er­ing mar­ket con­di­tions, the sec­ond quar­ter re­sults were very good and con­trib­uted to a strong first half of the year.”

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.