Drug Sales to Crack 1 Trillion Yuan Mark
Revenue from China's pharmaceutical market was 976 billion yuan in 2012 and is projected to rise 18% to over 1 trillion yuan this year, according to an industry conference. Retail drug sales were up 16% to 180 billion yuan in 2012, fueled by sales of chronic disease drugs amid the rapidly aging population.
Half Insurers See Bancassurance Premium Decrease
China's 39 life insurers posted a combined 21.1 billion yuan in premium incomes from bancassurance business in the first 7 months of 2013, down 23% from a year earlier, according to the China Insurance Regulatory Commission. Specifically, half of them reported a decrease in bancassurance premium incomes.
More Railroads to Be Built for Western China
Premier Li Keqiang said the central government will step up railway construction in western regions, particularly in the underdeveloped areas. Li made the remarks during his visit to the northwestern province of Gansu earlier this week. Li said good transport will help companies expand business in the region and create more local jobs.
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