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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.
BEIJING, Dec. 10 (Xinhua) -- Pharmaceutical producers will risk having their operation license revoked if they use prohibited chemicals as medicine ingredients or involved in fake drug production, China's drug regulator said in a circular Saturday.The State Food and Drug Administration said it would name and shame pharmaceutical companies if they make phoney medicine and withdraw the operation licenses of pharmacies if they intentionally sell unqualified drugs.The circular came in the wake of several counterfeit medicine scandals uncovered by Chinese police in the past few months.On Nov. 4, police seized more than 65 million imitation medicinal tablets and arrested 114 suspects in a cross-provincial raid on counterfeit drugs.In October, police raided on an illegal drug production and sale network and ended up with the seizure of 190 million yuan (29.9 million U.S. dollars) worth of counterfeit drugs.The suspects were found to have used starch or corn powder as ingredients for bogus medicine, or re-packaged expired pharmaceuticals.Police also found animal feed and chemical pigments in the counterfeit products.

BEIJING, Jan. 6 (Xinhua) -- China will bring its nurse population to 2.86 million by 2015, meaning there will be 2.07 nurses for every 1,000 people, according to a blueprint on nursing issued Friday by the Ministry of Health (MOH).By the end of 2010, China has registered 2.05 million nurses and there were 1.52 nurses for every 1, 000 Chinese.Even by 2015, the ratio of registered nurses for 1,000 people in China is five times fewer than countries in the European Union and the United States by current standards.By 2015, the ratio of licensed doctors to nurses will climb from 1:1 to 1:1.2, according to the blueprint.China also plans to provide more training for head nurses in large hospitals and make nursing services accessible to households and communities, according to the blueprint.The five-year nursing development plan said the government will further standardize its nurse management system and deepen health care reform in public hospitals over the next few years.The total number of registered nurses reached 2.05 million in 2010, marking a 52 percent jump from 2005, according to the blueprint.
SAN FRANCISCO, Nov. 11 (Xinhua) -- Facebook is close to a settlement with the U.S. Federal Trade Commission (FTC) over the charges that the world's largest social network misled users about its use of their personal information, the U.S. media reported Friday.The proposed settlement would require Facebook to get users' consent before making "material retroactive changes" to its privacy policies, said a report from The Wall Street Journal, citing people familiar with the talks.The agreement with the FTC is also expected to ripple much farther in the tech industry as more companies are developing programs to observe people's online behavior and profiting from the personal information, such as the target advertisements.With a current 800-million-user base worldwide, Facebook changed its user policy in late 2009 to disclose more of users' personal information without adequate notice, leading to a federal investigation along with mounting complaints online.On Thursday, two U.S. representatives asked the Palo Alto, California-based company to explain a February patent application, saying that it raises alarm bells about how the company tracks users on other websites.Outside the U.S., Facebook is also drawing criticism on its privacy policies in countries with strict privacy laws, such as Germany. On Thursday, German authorities said they are considering suing Facebook over its use of facial recognition technology.In a PBS interview aired earlier this week, Facebook's founder and chief executive officer Mark Zuckerberg and chief operating officer Sheryl Sandberg said the company is focused on privacy, addressing that it gives users the ability to protect their privacy.Zuckerberg said Facebook users volunteer all of their personal information on the social network, unlike other Internet giants and advertising networks that compile information "behind your back."
SAN FRANCISCO, Oct. 5 (Xinhua) -- Google announced Wednesday that Google Earth, the tech giant's virtual globe, map and geographical information program, has been downloaded more than one billion times since it was first introduced in 2005.According to Google's official blog, there have been more than one billion downloads of the Google Earth desktop client, mobile apps and the Google Earth plug-in. To celebrate the milestone, Google is aggregating all the interesting ways people have used Google Earth around the world and posting them on "www. OneWorldManyStories.com.""We never imagined our geospatial technology would be used by people in so many unexpected ways," said Google in the blog post.Google Earth maps the Earth by images obtained from satellite imagery, aerial photography and GIS (geographic information system) 3D globe. It also has versions of Moon, Mars and Sky, enabling users to see images and videos of the planets and distant galaxies.It is currently available in Google Earth, a free version with limited function, as well as Google Earth Pro and Google Earth Enterprise, subscription services with additional features intended for commercial use.
来源:资阳报