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BEIJING, Sept. 1 (Xinhua) -- Medicine prices at public clinics have been notably reduced thanks to a policy that promotes basic medicine, an office of the State Council said Thursday.Current price levels of basic medicine used by government-funded township hospitals and community clinics have been reduced an average of 25 percent from the levels two years ago when the policy started, according to a statement from the State Council office in charge of reforming the country's healthcare program.China has introduced a state list of basic medicine used by government-funded township hospitals and community clinics, which includes roughly 300 types of commonly-used Western and traditional Chinese medicine.Provincial governments will purchase basic medicine through public bidding and distribute them to local clinics.These clinics must not raise the prices of listed medicine and in return, the government will provide them with subsidies.The policy has been implemented at all township and community clinics in all the 31 provinces, municipalities and autonomous regions in the Chinese mainland, the statement said. 

BEIJING, Aug. 13 (Xinhua) -- Chinese rating agency Dagong Global Credit Rating Co. on Saturday defended its AAA rating given to the Ministry of Railways, which has been under public fire over a train collision last month.The ministry received the long-term credit rating after launching on Monday its first bond sales since the crash on July 23 that killed 40 people near the Wenzhou city of eastern Zhejiang province.It sold 20 billion yuan worth of three-month bills on offer in the interbank market, with a yield of 5.55 percent, a relatively high rate for short-term government paper.The rating was assigned because of the ministry's status as a government agency backed by the central government revenue, its sufficient capital flows and strong financing ability, Dagong said in an email to Xinhua.The agency made the elaboration in response to market doubts as the ministry is already heavily indebted and the accident has stirred up skepticism about the its credibility and the safety of fast-expanding railways.Adding to doubts is that the AAA rating of the ministry is even a notch above China's local currency debt rating of AA+, which was also rated by Dagong.Government data showed the ministry's debts exceeded 2 trillion yuan (313 billion U.S. dollars) as of the end of June, raising its debt ratio to 58.53 percent, slightly up from the end of the first quarter of this year.Dagong said in the statement that the debt-to-asset ratio is medium level, lower than the alert line for the ministry which is 75 percent.The ministry has large-scale assets of good quality and relatively large room for fund-raising, Dagong said.The ministry has "extremely strong" repayment ability as it is backed by the state's credit, Dagong said, referring it as one of the three authorities that are allowed to issue bonds, along with the Ministry of Finance and the People's Bank of China.In July, the ministry issued 20 billion yuan of one-year commercial papers with a coupon rate of 5.18 percent, but only 18.73 billion yuan of the total was bought.Analysts said it has become more difficult for the ministry to borrow money because of tightened market liquidity and concerns over the ministry's debt burden.China's top four banks said at the end of last month that they will continue to offer loans to the ministry based on market conditions and risk appraisal. Credit from the four largest state-owned banks including the Industrial and Commercial Bank of China and the Construction Bank of China has been the major source funding the construction of China's fast-growing railways in recent years.

MOSCOW, June 27 (Xinhua) -- Russia successfully launched a Cosmos class military satellite on Monday, said spokesman of the Russian Space Forces Alexei Zolotukhin.A Soyuz-U carrier rocket carrying the military satellite blasted off from the Plesetsk Plesetsk space center in northern Russia at 20:00 Moscow time (1600 GMT), Zolotukhin said."The rocket put the Cosmos series military satellite into the designated orbit at 20:08 Moscow time (1608 GMT)," he added.The spokesman also said the launch of the Soyuz-U carrier rocket "was the first time for this type of rockets" in this year.The launch carried out by a team from the Russian Space Forces was supervised by Space Forces Commander Oleg Ostapenko.The satellite, Cosmos-2472, is a new member to a Russian network of about 60-70 military reconnaissance satellites.

People look at a W154 Mercedes Benz racing car at a vintage car show marking the German car maker's 125 anniversary at the former Tempelhof airport in Berlin, August 27, 2011.

WASHINGTON, July 15 (Xinhua) -- Coastal communities along the U. S. East Coast may be at risk to higher sea levels accompanied by more destructive storm surges in future El Nino years, according to a new study published Friday by the U.S. National Oceanic and Atmospheric Administration (NOAA).The study was prompted by an unusual number of destructive storm surges along the East Coast during the 2009-2010 El Nino winter.The study, led by Bill Sweet, from NOAA's Center for Operational Oceanographic Products and Services, examined water levels and storm surge events during the "cool season" of October to April for the past five decades at four sites representative of much of the East Coast: Boston, Atlantic City, Norfolk and Charleston.From 1961 to 2010, it was found that in strong El Nino years, these coastal areas experienced nearly three times the average number of storm surge events (defined as those of one foot or greater). The research also found that waters in those areas saw a third-of-a-foot elevation in mean sea level above predicted conditions."High-water events are already a concern for coastal communities. Studies like this may better prepare local officials who plan for or respond to conditions that may impact their communities," said Sweet. "For instance, city planners may consider reinforcing the primary dunes to mitigate for erosion at their beaches and protecting vulnerable structures like city docks by October during a strong El Nino year."El Nino conditions are characterized by unusually warm ocean temperatures in the Equatorial Pacific that normally peak during the Northern Hemisphere "cool season." They occur every three to five years with stronger events generally occurring every 10-15 years. El Nino conditions have important consequences for global weather patterns, and within the U.S., often cause wetter-than- average conditions and cooler-than-normal temperatures across much of the South.

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