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WASHINGTON, Nov. 18 (Xinhua) -- The U.S. Food and Drug Administration (FDA) on Friday revoked its approval of Avastin for treating the breast cancer after concluding that the drug has not been shown to be safe and effective for that use.Avastin will still remain on the market as an approved treatment for certain types of colon, lung, kidney and brain cancer."After reviewing the available studies it is clear that women who take Avastin for metastatic breast cancer risk potentially life-threatening side effects without proof that the use of Avastin will provide a benefit, in terms of delay in tumor growth, that would justify those risks," FDA Commissioner Margaret Hamburg said in a statement. "Nor is there evidence that use of Avastin will either help them live longer or improve their quality of life. "Avastin's risks include severe high blood pressure; bleeding and hemorrhaging; heart attack or heart failure; and the development of perforations in different parts of the body such as the nose, stomach, and intestines.Avastin was approved for metastatic breast cancer in February 2008 under the FDA's accelerated approval program, which allows a drug to be approved based on data that are not sufficiently complete to permit full approval. After the approval, the drug's sponsor, Genentech, completed two additional clinical trials and submitted the data from those studies to the FDA. These data showed only a small effect on tumor growth without evidence that patients lived any longer or had a better quality of life compared to taking standard chemotherapy alone -- not enough to outweigh the risk of taking the drug.FDA's Center for Drug Evaluation and Research, which is responsible for the approval of this drug, ultimately concluded that the results of these additional studies did not justify continued approval and notified Genentech it was proposing to withdraw approval of the indication.Genentech did not agree with the Center's evaluation of the data and, following the procedures set out in FDA regulations, requested a hearing on the Center's withdrawal proposal, with a decision to be made by the Commissioner. That two-day hearing, which took place June 28-29, included recommendations from the FDA 's Oncologic Drugs Advisory Committee, voting 6-0 in favor of withdrawing approval of Avastin's breast cancer indication.

BEIJING, Dec. 16 (Xinhua) -- China issued rules for pilot programs of RMB Qualified Foreign Institutional Investors (RQFII) on Friday, formally giving a green light to investment of overseas RMB funds in mainland securities markets.The move is expected to widen the investment channel of overseas RMB funds and add new momentum to the country's bid to make the RMB an international currency.Hong Kong subsidiaries of fund management companies and securities firms can use RMB funds raised in Hong Kong to invest in mainland securities within a permitted quota, according to the rules jointly released by the China Securities Regulatory Commission (CSRC), the People's Bank of China and the State Administration of Foreign Exchange.The total investment quota of RQFII pilot programs is set at around 20 billion yuan (3.15 billion U.S. dollars), according to the rules.To control risks, qualified investors should invest no less than 80 percent of the RMB funds they raised in fixed-income securities, while investment in stocks and equity funds should account for no more than 20 percent.The CSRC will join other related departments to study the possibility of further expanding the trial program after its launch, said a CSRC official who declined to be identified.The launch of the RQFII will open another significant channel for overseas RMB funds to flow back into the country, said the CSRC official.It will also help diversify investment products for overseas RMB funds and facilitate off-shore RMB business, the official said.The RMB is not fully convertible under the capital account but China has stepped up efforts to make the currency more international over the past few years.The government has encouraged the use of the RMB in cross-border trade and investment settlement and approved foreign direct investment in overseas RMB funds obtained overseas.It also allowed Hong Kong to establish an offshore yuan market and has expanded trade settlement agreements and currency swaps to create more channels for the yuan to circulate outside the mainland.

HONOLULU, United States, Nov. 10 (Xinhua) -- Chinese President Hu Jintao arrived in Honolulu, Hawaii, on Thursday for the Economic Leaders Meeting of the Asia-Pacific Economic Cooperation (APEC), slated for Saturday and Sunday.At the annual meeting, leaders of the 21-member group will exchange views on economic growth in the Asia-Pacific region, strengthening regional economic integration and expanding trade.They will also consider the promotion of green growth and fostering job creation in green industries, energy security, and expanding regulatory cooperation and advancing regulatory convergence.Chinese President Hu Jintao (C) arrives in Honolulu, Hawaii, U.S., Nov. 10, 2011. Chinese President Hu Jintao arrived in Honolulu, Hawaii, on Thursday for the Economic Leaders Meeting of the Asia-Pacific Economic Cooperation (APEC), slated for Saturday and Sunday.President Hu is expected to speak at the meeting and express his views on the world economic situation and the regional economic situation, Wu Hailong, assistant foreign minister of China, said at a press briefing earlier this week.In his speech, Wu said, the Chinese leader will call for "improving global economic governance, shifting the growth method, promoting economic globalization and regional economic integration."Hu will also explain "China's stand on the issues of free and open trade and investment, green growth, the adjustment of economic structure and regulatory cooperation," Wu said.In Hawaii, Hu will join other APEC leaders in dialogue with the APEC Business Advisory Council (ABAC).APEC leaders are expected to discuss with ABAC representatives, among other things, regional economic integration, reform of the international monetary system, and food security.The Chinese leader is scheduled to deliver a speech at the APEC CEO summit Saturday.On the sidelines of the APEC Economic Leaders Meeting, President Hu will meet U.S. President Barack Obama and other leaders of APEC members."China hopes the meeting will further promote the free and open trade and investment in the Asia-Pacific region, push forward economic and technology cooperation, support multilateral trade systems, oppose trade protectionism, so as to inject vitality into world economic recovery and growth," Assistant Commerce Minister Yu Jianhua said at a press briefing earlier this week.APEC is the premier economic forum in the Asia-Pacific region.Since APEC's birth in 1989 it has grown to encompass 21 members spanning four continents, and represents the most economically dynamic region in the world, accounting for approximately 40 percent of the world's population, around 50 percent of world GDP and about 44 percent of world trade.APEC's 21 member economies are Australia, Brunei, Canada, Chile, China, China's Hong Kong, Indonesia, Japan, Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Chinese Taipei, Thailand, the United States and Vietnam.

BEIJING, Jan. 6 (Xinhua) -- Beijing will offer residents 20,000 rental bikes this year to ease the city's notorious traffic jams, according to authorities with the Beijing Municipal Commission of Development and Reform.Five hundred rental kiosks will be set up around the city to offer residents over 20,000 rental bikes, the commission said.Beijing has also proposed creating new bike lanes in some areas, including main streets, historical and cultural conservation areas and some major business districts, from 2011 to 2015, according to the commission.The capital city currently has about 5 million vehicles on its roads, leading to serious traffic congestion that frustrates the city's residents on a daily basis."A lack of bike lanes is the reason why I refuse to ride a bike. Bikes and vehicles are using the same lanes, and that frightens me and makes me feel unsafe," said Beijing resident Song Tao.People often park cars on the city's existing bike lanes, pushing cyclists onto the vehicles' lanes, said Song.To ease traffic congestion, Beijing has made various efforts to encourage people to opt for modes of public transportation.On Dec. 31, Beijing opened three new subway lines, bringing the number of subway lines in Beijing to 15, with a total length of 372 kilometers, said Beijing Metro Spokesman Jia Peng.Beijing will open four more subway lines in 2012, according to information released at a rail transit construction mobilization conference.Amid other measures to ease traffic in 2011, city authorities decided to allow only 240,000 vehicles to be registered annually, slashing the new car registrations by two-thirds from the 2010 level.Meanwhile, vehicles are banned from roads one day each week according to license plate numbers.