According to Ouyang Weimin, the director of Payment System Department of the People's Bank of China, PBOC plans to issue licenses to Chinese online third-party payment platforms to bring more competition and a higher level of security into this sector of the industry.

Taiwan-headquartered fabless semiconductor company MediaTek Inc. and the U.S. wireless communication technology developer Qualcomm have signed a patent cross-licensing agreement.

It was learned at the recent Hunan Medical Instrument Supervision Work Conference that 66 medical instrument companies in Hunan had their production or operating licenses revoked in 2008.

China Botanic Development Holdings Limited a packaged food manufacturer, distributer and retailer, has acquired the entire equity interest in Guangdong Kangli Pharmaceutical Company Limited through Shenzhen Conseco Seabuckthorn Biotechnology Company Limited, its wholly-owned subsidiary, for an aggregate consideration of CNY23,600,000.

China Merchants Bank has become the first Chinese bank to receive a banking license in the United States since the adoption of the Foreign Bank Supervision Enhancement Act of 1991.

Pu Changcheng, the vice-director of China's General Administration of Quality Supervision, Inspection and Quarantine, said in a State Council Information Office press conference that the special examination of product quality and food safety has been completed and all the goals have been achieved.

Herbalife announced the promotion of Jerry Li to general manager of the company's China operations.