Year in review: Major business events in 2018
Changsheng Biotech in safety scandal
Vaccine maker Changsheng Biotech was involved in a safety scandal in July, when the State Drug Administration announced it found the company had engaged in falsifying production and inspection records in the manufacture of rabies vaccines.
The China Securities Regulatory Commission and China Food and Drug Administration imposed fines of 600,000 yuan ($86,500) and 9.1 billion yuan on Changsheng respectively. On Dec 11, the company received a mandatory delisting notification from the Shenzhen Stock Exchange.
On Dec 23, a new draft law that aims to intensify management of vaccines to ensure their safety and quality, approved by China's State Council, was submitted to the National People's Congress Standing Committee for approval.
