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NANJING, April 23 (Xinhua) -- At a time when almost every commodity in China is getting more expensive, the dwindling cost of medicine is a rarity.Zhang Jinkui, a hypertension patient, buys medicines from the community health center of his neighborhood in Changzhou, a city in east China's coastal Jiangsu Province.His prescription list includes Aspirin Enteric-coated tablets, down to 1.4 yuan from 4.7 yuan (0.7 U.S. dollars) per unit, and Fosinopril Sodium Tablets, down to 41.39 yuan from 51.6 yuan per unit.Both drugs are found on the essential drug list unveiled in 2009. The list names the 307 most common western and traditional Chinese medicines, which are heavily subsidized so hospitals can sell them at cost price.A consumer buys medicines with the help of a retailer at a pharmacy in Lianyungang, east China's Jiangsu Province, March 28, 2011.All essential medicines are listed by their generic names, and drug producers compete to supply essential medicines through public procurement.Due to a long history of low government funding for state-run hospitals, which often covers only 10 percent of the hospitals' operating costs, doctors have generated income for hospitals by aggressively prescribing expensive, and sometimes unnecessary, medicines and treatments.The essential medicine system and the reform of publicly funded hospitals, two pillars of China's health reform, are designed to address high medical costs and low accessibility of medical services.In April 2009, China kicked off health reforms aimed at correcting these long-standing problems facing China's health system and easing public grievances.Two years later, the essential medicine system has reduced drug prices, but still fails to please hospitals, patients and drug producers.The system requires government-funded grassroots health clinics, including urban community health centers and rural clinics, to prescribe only essential medicines and to sell these medicines at cost price, rather than with the previous 15 percent mark-up.Such policies have brought hard times to grassroots health clinics, especially in cash-strapped areas.Song Wenzhi, a public health professor at Peking University, said "Grassroots health clinics, without the expertise to perform operations and other treatments, rely heavily on selling drug," adding that these hospitals have found themselves scraping by due to the zero percent mark-up policy.Wang Zhiying, Vice Director of the People's Hospital of Anxiang County in the city of Changde, Hunan Province, said four grassroots hospitals in Changde tested the essential medicine system as pilot projects, but the zero percent mark-up policy took away 60 to 70 percent of the hospitals' revenue.Wang was quoted by "Health News," a newspaper run by China's Ministry of Health, as saying that, due to financial difficulties, the county government had not yet channeled the 8 million yuan (1.2 million U.S.dollars) in support funds into the hospitals' accounts, resulting in the resignations of many doctors.The essential medicine system covers 60 percent of government-funded grassroots hospitals and drug prices have fallen by an average of 30 percent, said Sun Zhigang, Director of the Health Reform Office under the State Council, or China's Cabinet.According to the health reform plan for 2011, the essential medicine system will cover all government-sponsored health institutions at the grassroots level by the end of the year and drugs will be sold there at a zero percent mark-up.Song Wenzhi said the key will be the commitment of local governments to health reform and their financial input. This way, essential medicines can benefit the public without bankrupting grassroots health institutions."That would be a great sum of money." said Song, citing his own studies. "There are roughly 5,000 government-funded hospitals in China. One third of them make profits, one third barely break even, and still one third rely heavily on government subsidies."To maintain the poorest hospitals, central and local level governments would need to invest 15 billion yuan (2.3 billion U.S. dollars) each year, according to Song's estimate.
WASHINGTON, May 27 (Xinhua) -- The U.S. Treasury Department said in a report released on Friday that China was not manipulating its currency."In China, since the authorities decided in June 2010 to allow the exchange rate to appreciate in response to market forces, the renminbi (RMB) has appreciated by a total of 5.1 percent against the dollar in nominal terms through the end of April 2011, or at an annual pace of approximately 6.0 percent," noted the semi- annual report on international economic and exchange rate policies.The Treasury said that as inflation in China is significantly higher than it is in the United States, the renminbi has appreciated more rapidly against the dollar on a real, inflation- adjusted basis, at a rate of around 9 percent per year.The delayed report, which was originally scheduled to be sent to the Congress on April 15, finds "no major trading partner of the United States" manipulated its currency during the period covered in the report.The Treasury added that it will continue to "closely monitor" the renminbi appreciation pace.The report also noted that the U.S. economy is recovering from its deepest recession in the post-war period."While recent growth is encouraging, the economy still faces significant challenges," said the report. The number one challenge is still in the labor market.The U.S. unemployment rate, currently at 9.0 percent, is not expected to fall significantly this year.Besides, housing market and long-term fiscal position are " unsustainable," according to the report.In recent remarks, Treasury Secretary Timothy Geithner stated that China is the fastest growing market for U.S. exports. In 2010, U.S. exports to China grew at a pace that was 50 percent higher than the rest of the world.

BEIJING, May 24 (Xinhuanet) -- Facebook founder Mark Zuckerberg welcomed more kids to join in the social network site, according to International Business Times reports on Monday.He made this comment in the NewSchools Summit in California.Zuckerberg said Facebood can help young kids to learn from each other and acquire more knowledge about using the internet."That will be a fight we take on at some point," Zuckerberg said, "My philosophy is that for education you need to start at a really, really young age." At the moment, Facebook officially does not allow the children younger than 13 to sign up, since the Children's Online Privacy Protection Act (COPPA) forbids children under 13 from joining an online service which collects user information data.However it recently revealed that 7.5 million Facebook users were younger than that, accoding to a study released last week by Consumer Reports.Some experts suggested Facebook may not be in any position to provide that education in its current form. "The lessons of digital citizenship have to start young, but I don't feel that Facebook is the venue to have those lessons occur. A lot of missteps happen on that site without a lot of coaching." said Dr. Gwenn O'Keeffe, an expert on young children's education.
BEIJING, May 10 (Xinhuanet) -- Professional social networking site LinkedIn is aiming for a valuation of 3.3 billion U.S. dollars for its initial public offering, media reports said Tuesday.The Mountain View, California-based company is expected to begin trading on the New York Stock Exchange within the next month and will use the symbol "LNKD."It plans to offer 7.84 million shares priced at 32 dollars to 35 dollars each, according to the filing, which it submitted to the Securities and Exchange Commission.LinkedIn, which has more than 100 million members in over 200 countries and territories, is seeking to raise as much as 274.4 million dollars from the initial public offering (IPO) with 146.6 million dollars going to the company itself.In 2010, LinkedIn made 15 million dollars in profit on 243 million dollars in revenue, according to the filing.LinkedIn's biggest shareholder is its founder and chairman, Reid Hoffman, who owns more than 21 percent of the company.
CAPE CANAVERAL, Florida, April 29, (Xinhua) -- NASA on Friday delayed space shuttle Endeavor's launch to no earlier than Monday afternoon due to technical problems with heaters in the shuttle's auxiliary power unit."Shuttle Endeavor's launch now no earlier than Monday at 2:33 p. m. EDT (1833 GMT)," NASA said. "Engineers need that time to troubleshoot an issue that resulted in today's launch scrub."During Friday's countdown, engineers detected a failure in one of two heater circuits associated with Auxiliary Power Unit (APU) 1. Heaters are required to keep the APUs' hydrazine from freezing on orbit.Space shuttle Endeavour sits on the launch pad at the Kennedy Space Center at Cape Canaveral, Florida, April 28, 2011. The Endeavor is scheduled for a Friday afternoon launch.U.S. President Barack Obama, touring storm damage in Alabama on Friday, had been expected to attend the planned 3:47 p.m. (1947 GMT) launch. Obama will still visit Cape Canaveral and then travel to Miami, where he is scheduled to speak at a community college commencement.Endeavor's 14-day mission will deliver the Alpha Magnetic Spectrometer-2 (AMS) to the International Space Station. AMS, a particle physics detector, is designed to search for various types of unusual matter by measuring cosmic rays.Its experiments are designed to help researchers study the formation of the universe and search for evidence of dark matter, strange matter and antimatter. Endeavor also will fly the a platform that carries spare parts that will sustain space station operations once the shuttles are retired from service.The mission will feature four spacewalks to do maintenance work and install new components. These are the last scheduled spacewalks by shuttle crew members.Endeavor, which has been promised to the California Science Center in Los Angeles upon its return, was the replacement ship for Challenger, which was lost in a 1986 explosion as it ascended over the Atlantic that killed seven astronauts.It will be the second of NASA's three surviving shuttles to be retired. Sister ship Discovery, which will be transferred to the Smithsonian National Air and Space Museum, completed its last flight in March.Atlantis' final launch is scheduled for June 28. When the U.S. space shuttle program officially ends later this year, the Russian space program's Soyuz capsule will be the only method for transporting astronauts to and from the station.
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