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As a milestone of Chinese and Western medicine integration, an original natural medicine for diabetes, namely mulberry twig alkaloids, was launched during the seminar. The medicine was developed by the Institute of Materia Medica and produced by Beijing Wehand-bio Pharmaceutical Co Ltd. With 21 years of research and development, the drug is the first hypoglycemic drug of TCM approved in China in 10 years, with completely independent intellectual property rights.

As bonds held by foreign investors still represent only 2.5 percent of China's bond market, that leaves plenty of room for growth in foreign investment in such instruments, according to Woetzel.

As banking regulators tightened rules on shadow banking and interbank business and launched a new round of inspections on irregular banking activities, China CITIC Bank re-examined its interbank business to ensure it is in compliance with regulatory requirements, in addition to shrinking part of the interbank business that generated low or no profits, said Fang Heying, vice-president of the bank, at a news conference on Tuesday.

As a deputy director for education in the provincial government of Liaoning, Qu Jianwu previously offered direction to dozens of colleges in this part of Northeast China.

As an example, two Chinese banks are making inroads into Greece. Bank of China (Europe) Luxembourg opened a branch in Athens early this month, while the Industrial and Commercial Bank of China (Europe) SA will set up a representative office in Greece.