NDRC fines medicine firms

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.”