➲ Agricultural lab to be set up

The National Development and Reform Commission has approved the establishment of a national agricultural laboratory in Nanchang, capital of Jiangxi Province, as part of the country's new approach to food safety. The National Paddy Engineering Laboratory is intended to enhance the production capabilities of the country's rice paddies, according to the provincial development and reform commission. The Central Government plans to allocate 12 million yuan ($1.8 million) for the construction of a research center and presentation base for the lab.

➲ BOC plans global expansion

Bank of China Ltd. (BOC), the only Chinese bank to have operated continuously for nearly 100 years, will continue to expand its overseas network, despite becoming much more reliant on the domestic market in recent years. By 2020, BOC expects to become a truly world-class bank, said Li Lihui, President of the country's fourth-largest commercial lender by market value. Board members have made overseas business a strategic priority, and the lender will further expand its branch network worldwide while considering acquisition opportunities prudently, the bank said.

➲ BRICS targets healthcare

Brazil, Russia, India, China and South Africa convened the first BRICS Health Ministers' Meeting in Beijing in July and issued a declaration to promote innovation and access to affordable medical products, vaccines and the transfer of health technologies. Chinese Health Minister Chen Zhu said in his opening remarks that the BRICS countries face common challenges in public health, which require broader and deeper collaboration.

➲ Chery exports strong

Chery Automobile Corp. Ltd., a leading Chinese private automaker based in eastern Anhui Province, posted more than 100-percent growth in its June exports against a market adjustment at home. A company spokesperson said that the company exported 16,578 vehicles in June, up 105.9 percent from the same month a year earlier, and marking the company's biggest monthly sales since May 2008.

➲ Pollution control fund

According to the Ministry of Finance (MOF), it will arrange for 5 billion yuan ($774 million) this year to support pollution control projects along major rivers or lakes. MOF said the funds will be given in the form of rewards rather than subsidies, and the allocation of the funds will be linked directly to the assessment results of pollution control. The cleaner the river or lake, the more funds local governments will receive.

➲ New deal clinches

Gansu Province in northwest China has clinched a deal for economic cooperation with Zimbabwe's Mashonaland West Province, hoping to work closer in mining and new energy sectors. According to an MOU signed in July in Gansu's capital Lanzhou, the two provinces will set up a joint committee for economic and technical cooperation that will meet regularly to coordinate a series of investment projects. Their cooperation will cover mining, fertilizer production, hydropower, solar energy and wind energy development. Gansu and Mashonaland West have had trade and economic relations since 1984.

➲ Private clinics in pilot

The Ministry of Health issued a circular that allows individuals to set up private clinics in several pilot cities starting July 1. In order to win permission, applicants must be physicians who have worked in healthcare or medical institutions for five years after gaining a physician certification, and they must also be healthy and unemployed or retired. The pilot program will run from July 1, 2011 to June 30, 2012 in Tianjin, Shenyang, Changchun, Xiamen and Kunming cities.

➲ Metro China

Metro China 2011, a professional exhibition for urban rail transportation, will be held between November 1 and 4 at the China International Exhibition Center in Beijing. Hosted by the Urban Rail Transit Committee of the China Communications and Transportation Association, the exhibition will showcase newly developed urban railway technologies, solutions, and the equipment of domestic and foreign companies. Related forums and symposiums are also to be held.

➲ Private banking business booms

The private banking business has become a new source of profit for Chinese banks and China may soon become the world's largest wealth management market, a report released by the Bank of China Co. Ltd. and financial magazine Euromoney. The report also found that foreign banks have been stepping up efforts to increase their exposure and market shares in the country's private banking industry in the wake of the global financial crisis in 2008.

25.6%

China's fixed asset investment rose year-on-year in the first half of 2011

 93 Billion [$]

Chinese enterprises annual losses due to a lack of business credibility

2.22Trillion KW/h

China's power generation in the first half of 2011

 11 Billion [+]

People in the Horn of Africa confronting drought

$120 Million

World Bank loan to Uganda to improve the country's power supplies in the first quarter of 2011