Aroundtheworld

Yunnan drug gets US approval

Tongshu capsules, an ethnic medicine developed by the Yi ethnic group of Southwest China’s Yunnan Province, have received regulatory approval by the US Federal Drug Administration (FDA) to begin Phase II clinical trials, the first time an ethnic medicine from China has won such approval, domestic news site finance. qq.com reported on Monday.

Tongshu capsules have been used in China since 2000. The drug’s popularity as an effective treatment for soft tissue injuries has led to cumulative sales of more than 35 million units.

Ethnic medicines are drugs developed according to the traditional medicinal logic and practices of Chinese minority ethnicities.

The medicine is also the first self-developed ethnical one in China.

Alipay, GCash remittances

The world’s first cross-border remittance services based on blockchain technology was unveiled in Hong Kong on Monday, allowing users of Alipay HK to transfer cash to the Philippine digital wallet GCash within seconds, according to a press release Ant Financial sent to the Global Times Monday.

GCash users can also send and receive money to and from individuals in Hong Kong through the partnership between Alipay HK and GCash, while Standard Chartered provides such services as capital settlement and foreign exchange.

Alipay HK, the Hong Kong version of Alipay wallet on the Chinese mainland, was launched last September in a partnership with CK Hutchison Holdings.