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The decision was based on a recent circular on the adjustment of medical insurance reimbursement and procurement prices of these types of drugs.

The department of commerce in Zhejiang province said the area has become a popular destination for foreign investors and the growth of its foreign direct investment has outpaced other coastal provinces in the first six months of the year.

The defining feature of China-US trade-in-services cooperation is mutually beneficial, said the report, noting that US companies have played an active role in the development of China's service trade.

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The debt level, especially for State-owned enterprises, is still high, Zhu said, making it necessary to continue deleveraging to contain risks and achieve sustainable growth.

The dollar fell against a basket of currencies, while US Treasury prices rose. Stocks on Wall Street were trading higher.

The description resonated with Hong Rong, founder of investor education platform Hongda Education who also doubles up as an MBA tutor at the Shanghai Advanced Institute of Finance. Hong said the description, in tandem with the proposed measures, showed regulators' clearer stance on safeguarding the market's healthy development, constituting a major boost to investor sentiment.

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The discussion will also take in the use of new technologies in museum operations, cultural diversity in the film industry, the revival of traditional medicine and new cultures grown in cyberspace.

The discovery led to a series of geological surveys and explorations by local authorities, who found rich mineral resources in the county.

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The developer of the technology－Tianjin Jinhang Research Institute of Technical Physics which is affiliated to China Aerospace Science & Industry Corp－says potential applications of the technology include inspecting illegally colored oranges and inquiring about the expiry date of milk powder, jobs which are currently done by professional agencies with sophisticated methods.

The defective power control module software in some of the targeted cars may cause engine failures, posing safety risks, the statement noted.