China Economic ReviewThe Chinese government has softened its drug price regulation so that pharmaceutical enterprises can set prices for some drugs on their own, Reuters reported. The move occurred in reaction to criticism that capping had caused a drug drought. Beijing has been struggling with rising healthcare costs, violent conflicts between patients and doctors and medicine safety […]
General Electric’s (GE.NYSE) healthcare division has recalled 223 US-made baby warmers in China over safety concerns, Reuters reported, citing a statement from the China Food and Drug Administration on Tuesday. The cot-like warmers are used in hospitals to regulate the body temperature of tiny infants unable to keep themselves warm due to a lack of […]
Chinese online travel agent Ctrip.com International (CTRP.NASDAQ) and state-owned Ping An Insurance (SHA:601318, HKG:2318) have partnered up to offer “smog insurance” to people in seven polluted cities including Beijing, Financial Times reported. The scheme pays out when the air quality index, or AQI, exceeds set levels for two days in a row. A week of […]
Panasonic Corp (PC.NYSE) announced it will pay extra compensation to employees it sends to China over growing concerns about air pollution in the country, Financial Times reported, citing a statement by the Japanese electronics group on Wednesday. The company referred to the high levels of PM2.5, hazardous particulate matter, in some Chinese cities. Employees Panasonic […]
Hedge fund Pershing Square Capital Management, which is betting against nutrition and weight loss company Herbalife (HLF.NYSE), said it would unveil details about the company’s violations of laws in China on Tuesday, Reuters reported. Activist investor William Ackman, the hedge fund’s CEO, has called on regulators to investigate Herbalife’s distribution model, which he calls a […]