'China-made' laptop battery

'China-made' fake drugs investigated

Ping An to buy stake in Shenzhen Development Bank,Acer Laptop Battery

China Ping An Insurance (Group), the nation's Acer Laptop Battery second largest insurer, said late Friday that it planned to buy stake worth up to a combined 22 billion yuan ($3.2 billion) in Shenzhen Development Bank.

Ping An said in an online statement that it had agreed Acer Laptop Battery to purchase up to 585 million new shares from Shenzhen Development Bank for 10.7 billion yuan, or 18.26 yuan per share.

The company said it would also buy 520 million shares from the US-based TravelMate 240 Series, BTP-52EW, BTP-63D1, aspire 3000, BTP-42C1, BTP-44A3,TPG's Asian arm Newbridge Capital for 11.45 billion yuan by the end of 2010. Newbridge Capital is currently the top shareholder in Shenzhen Development Bank.

Related readings:

Ping An Insurance 2008 net profit down 94.4%

Ping An to increase shares in HSBC Holdings

Shenzhen Development Bank's net profit drops 77% in 2008

SDB reduces bad loansTravelMate 240 Series,

The two deals would enable Ping An to acquire a nearly 30-percent stake in Shenzhen Development Bank, and become its top shareholder.

But the deals still need regulatory approval from the government.

Frank Newman, president of Shenzhen Development Bank,Acer Laptop Battery, said the deals would enhance the bank's capital adequacy ratio, and is good to its long-term development.

Ma Mingzhe, president of Ping An, said the move is in accordance with the company's strategy to engage in more comprehensive financial services and achieve a balanced growth in insurance, banking and investment.

The Ping An Group, together with Ping An Life Insurance, currently holds a 4.68 percent stake in Shenzhen Development Bank.

The State Food and Drug Administration (SFDA) is investigating an allegation by Nigeria that a consignment of drugs labeled 'Made in India' were, in fact, fake pharmaceuticals produced in China, said SFDA spokesperson Yan Jiangying.BTP-52EW,

Related readings:

China vows to crack down on fake drugs
TravelMate 240 Series, BTP-52EW, BTP-63D1, aspire 3000, BTP-42C1, BTP-44A3
China cracks down on online drug fraud

Traditional Chinese medicine entering global markets



The Times of India reported this week that the forged ,Acer Laptop Battery anti-malaria pharmaceuticals were "a large consignment" and that they were seized by the Drug Regulatory Authority (NAFDAC) of Nigeria.

Had the drugs not been intercepted, about 642,000 adults would likely have taken the potentially harmful product, said NAFDAC.

"We are highly concerned about the case and are sending investigating officials to the Chinese provinces involved,BTP-63D1, including Guangdong," Yan told a press conference.

Overseas pharmacy companies should deal only with registered Chinese drug producers and traders that are recognized by SFDA, said Cui Enxue, director of the SFDA's drug safety inspection bureau.

"We'll investigate the case thoroughly and refer any Chinese drug companies involved to the law-enforcement and justice department if they are found to have broken the law," Cui said, citing the importance of international cooperation and information-sharing to the investigation.

Yan also told the press conference that the SFDA will continue working with the police ,Acer Laptop Battery in the joint war against fake and inferior drugs in terms of technological support and the handing-over of cases.

To better secure drug safety, Cui also called for stricter implementation of the Criminal Law for crimes involving fake drugs.BTP-42C1,

The call followed a special judicial interpretation released two weeks ago by the Supreme People's Court and the Supreme People's Procuratorate on the punishment of those involved in counterfeit and inferior drug production and sales. The interpretation elaborates on the contents of the pertinent part of the Criminal Law.

The interpretation makes it clear that "serious and especially serious" harm from fake and inferior drugs, a term in the law, refers to deaths, severe disabilities and serious TravelMate 240 Series, BTP-52EW, BTP-63D1, aspire 3000, BTP-42C1, BTP-44A3 ,Acer Laptop Battery injuries of three people or more.

According to the Criminal Law, violators will be sentenced to between three years and life in prison and be subject to fines.BTP-44A3,