CHINA'S HARBIN PHARMACEUTICAL GROUP TO ISSUE CNY1 BILLION BILLS

Harbin Pharmaceutical Group Co. (600664.SH), a unit of a major pharmaceutical company in China, said it plans to issue CNY1 billion in 365-day bills. The bills will be issued through the interbank market, the company said in a statement over the weekend. It will hold a shareholders' meeting on Aug. 23 to seek approval for the issue. It didn't say what the proceeds will be used for.

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