August 10, 2007 – For the first time, China specified its financial commitment to improving food and drug safety. The country said it would spend 8.8 billion RMB ($1.16 billion) by 2010 to protect consumers - its own and those who receive exports from China - from unscrupulous businesses that cut corners and provide dangerous goods. The money will be spent as part of the current five-year plan. Some of that money will be spent to build a new national laboratory to test products. More details...
