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MADRID, Jan. 24 (Xinhua) -- The Spanish branch of Industrial and Commerce Bank of China (ICBC) was officially inaugurated in Madrid Monday.ICBC President Jiang Jianqing, Spanish Minister of Industry, Tourism and Commerce Miguel Sebastian and Chinese Ambassador to Spain Zhu Bangzao attended an inaugural gala dinner here.In a speech, Jiang thanked the Spanish government and authorities for allowing the ICBC to open in Spain and highlighted the importance of the Spanish economy and the close relations between the two countries.Sebastian said Spain welcomes the arrival of the biggest Chinese bank, which would further improve the already good relationship between the two counties.The Madrid branch is to provide a wide range of financial services to 166,000 Chinese nationals living in Spain.ICBC has a total of 386,723 employees and 162 foreign branches throughout the World.

BEIJING, Jan. 22 (Xinhua) -- The Chinese central government in Beijing pledged Saturday that it would work to ensure smooth and safe traveling for the public as many return home to reunite with families during the Spring Festival.It is expected that some 700 million people are to travel during a 40-day Spring Festival travel period that began Wednesday, but heavy snow and icy rain, which has continued since the new year began, has disrupted traffic and cut water and power supplies to some regions in south and southwest China.The lingering freezing weather also poses great challenges to transportation and railway authorities, as they work to avoid another travel disaster, as was seen in early 2008 when unprecedented heavy snow and freezing rain inundated the south of the country, bringing traffic to a standstill at the peak holiday season.Due to this, the Ministry of Public Security announced on Saturday that it had drawn upon the experiences gained from the 2008 weather disaster, and has ordered local bureaus to begin planning precautionary measures to combat the freezing weather.It also issued orders to local departments beginning in late December to step up snow clearance and make sure expressways and key trunk lines are not closed by snow."More police will be deployed to maintain traffic order and security, and to reduce offences such as drunk driving, speeding, passenger overloading of cars and trucks, and driving while fatigued," Huang Ming, Vice Minister of Public Security, said in a press conference held in Beijing.Meanwhile, over 8,300 service stops would be established across the country in order to provide necessities such as water and medical help to drivers and migrant works returning home for the festival.China's meteorological authority forecast Saturday that snowy weather will weaken in most regions over the next three days, but the eastern areas in southwest China will continue to see more rain and snow.On Sunday, the weather forecast anticipated that moderate snow would hit some regions in Inner Mongolia, Guangxi, and Hainan, as the southwestern province of Guizhou will see more icy rain.Local authorities said nearly 10 million have been affected in Hunan after a blizzard that started Monday, which also forced the evacuation of 73,000 people. About 15 power lines were shut down and 132 roads were closed because of snow and icy rain in Guangxi.As the freezing weather makes travel on roads more difficult, railway stations are seeing surges in passenger numbers.An official with the Ministry of Railways (MOR) said nearly 4.8 million passengers took trains on Jan. 19, the first day of the travel peak season this year, up 11.9 percent compared to the corresponding day last year. The next day, over 4.9 million passengers traveled on railways, up 17.5 percent. The Nanchang railway station even saw passenger number jump 30 percent.The MOR said earlier that it would run an additional 293 pairs of trains per day during the rush period in order to meet climbing passenger demand.Further, the Vice Minister of the country's National Development and Reform Commission, the country's top economic planning body, said the ministry would work with other government departments to implement multiple measures in maintaining a stable supply of coal, electricity, oil, and gas so that residents' demands for heating and power use can be met during the festival.The traditional Chinese Spring Festival, or chun jie in Chinese, is the country's most important festival. It falls on Feb. 3 this year. Workers nationwide enjoy a seven-day holiday that ends on Feb. 8.

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.

BEIJING, Jan. 21 (Xinhua) -- China's State Council, or Cabinet, Friday published the newly adopted regulations on expropriation of houses on state-owned land and compensation.The new rules, which took effect upon the issuing, took the place of the 2001 regulations on administration of the housing demolition and relocation in cities.The new rules specifically stated that neither violence or coercion may be used to force homeowners to leave. Nor could measures, such as illegally cutting water and power supplies, be used in relocation work.The new rules also banned land developers' involvement in the demolition and relocation procedures, as well as demolition by local governments without court approval.Moreover, the new regulations ensured fair prices for homeowners by providing that compensation for expropriated homes should be no lower than the sum of the market price of similar properties at the time of an expropriation.The regulations were first reviewed at a State Council executive meeting in December 2007. Later, public opinion was twice sought in 2010 after revisions had been made to the regulations.An executive meeting of the State Council Wednesday gave in-principle approval to the regulations.

XICHANG, Sichuan, April 10 (Xinhua) -- China early Sunday morning successfully launched its eighth orbiter which will form part of its indigenous satellite-navigation and -positioning network.A Long March-3A carrier rocket carrying the "Beidou," or Compass, navigation satellite took off at 4:47 a.m. Sunday from the Xichang Satellite Launch Center in southwest China's Sichuan Province.It will join seven other satellites already in orbit to form a network which will eventually consist of more than 30 satellites.The launching of the satellite marks the establishment of a basic system for the navigation and positioning network, said an unidentified spokesperson for the Xichang Satellite Launch Center.China will launch more satellites within the coming two years to finish a regional network to provide navigation services with high precision and credibility for industries and sectors such as mapping, fishery, transportation, meteorology and telecommunication, in the Asia-Pacific regions, the spokesperson said.The network is scheduled to be able to provide global services by 2020.