China is moving to reduce reliance on grain imports in the next five year plan period to step up domestic grain security, but the higher prices for local produce may be an obstacle, analysts say. China is this year set to see grain production rise for the 12th consecutive year even as overseas grain prices fell 40% to 50% from 2011/2012 levels. Last year, China’s grain inventory was estimated at 766 million tons while imports surpassed 100 million tons for the first time.

China is making more of the medicines it uses. Given the 10 years or more it typically takes to bring a new medicine to market, original “Made in China” treatments won’t arrive overnight, but multinationals are already encountering more competition from local generic drugs that look set for a quantum leap in quality. The stakes are high. China is the world’s second-biggest medicine market behind the United States, and fast food, smoking and pollution have fueled a rise in cancers and chronic diseases. The country also has more diabetics than any other country in the world, with numbers expected to hit 151 million by 2040, up from 110 million today. By 2010, Denmark’s Novo Nordisk dominated 63% of China’s insulin market, but it has been losing ground to local rivals, who are selling both cut-price basic insulin as well as sophisticated modern versions. The top 10 Chinese drugmakers increased sales averaging 12% this year, according to IMS Consulting – twice the rate of multinationals. Selling drugs to patients at a hefty mark-up often accounts for 40% to 50% of Chinese hospitals’ revenues, but the authorities are now pushing a zero mark-ups policy, the South China Morning Post reports.

Shanghai has fined a hotel chain for infringing on Disney’s trademarks at five of its branches as part of an effort to protect Disney’s brand in the run-up to the opening of its theme park next year. The five hotels owned by the Shenzhen Vienna Hotels Group in Pudong district, where the theme park is due to open, were found to have used the Chinese characters for Disney on their signboards, websites and electronic displays in their lobbies without authorization. “Some of the hotels are more than 10 km away from Disneyland. This kind of behavior exploits Disney’s trademarks and goodwill and will cause real damage to its trademarks,” Xinhua quoted the regulators as saying. The establishments had infringed on trademark rights, and some were suspected of unfair competition, the report said. The hotels were fined a combined CNY100,000.

The number of wealthy Chinese has grown 23% year-on-year even as the country’s economic growth is slowing. By the end of the year, China is expected to have 1.12 million residents with at least CNY10 million of investable assets – compared with 910,000 people at the end of last year. Their combined investable assets would reach CNY114.5 trillion – up 7.8% from last year – according to a report compiled by Forbes’ Chinese edition and Beijing-based finance management firm Fu Hua Asset. The industries with the most wealthy people were telecommunications, media, technology, finance, and trade, the report said. Jia Kang, President of the China Academy of New Supply-side Economics, said the number of rich had risen much faster than the country’s economy, which, suffering from a lingering downturn, grew at just 6.9% in the third quarter of the year. “It shows the economy has brought more benefits for them than for the poor,” he said.

In a separate poll of 284 high-net-worth Chinese who were either considering emigration or had already emigrated, Hong Kong beat Shanghai and New York as the most important global city. “Hong Kong’s investment environment and quality of life is most attractive for rich Chinese, despite the Hong Kong government suspending investment immigration,” said Rupert Hoogewerf, Chairman of Hurun Report, which issued the study with immigration service firm Visas Consulting Group. However, the U.S. remained the most popular emigration destination, valued for its top universities, property market, medical services and friendly immigration policy. Britain replaced Canada as the second choice, the South China Morning Post reports.

Yantai Changyu Pioneer Wine Co, one of China’s leading wine producers, has bought a 90% stake in the Bordeaux-based Chateau Mirefleurs for €3.33 million. Chateau Mirefleurs belongs to French drinks company Castel Group. The acquisition allows Changyu to gain Appellation d’Origine Controlée, a quality certification granted to certain French wines, cheese and agricultural products. The deal marks the second venture between the Shandong province-based Changyu and Castel. In 2002, the two built China’s first professional winery – Yantai Changyu Castel Chateau. Chateau Mirefleurs grows 55 hectares of vines, planted on south-facing slopes. It can produce 250,000 bottles annually, and has two registered trademarks – Chateau Mirefleurs and Chateau Techeney. The operation made a €40,000 loss last year, after being forced to drop its prices, but Sun Jian, Changyu’s Deputy General Manager, expects it to return to the black once more of its high-quality bottles are sold in China. Changyu is looking to buy more assets in Bordeaux and other areas of France, as well as in other wine-producing countries including Australia and Chile. Changyu already owns the French cognac house Roullet-Fransac Chateau, which it bought in 2013, and Spanish wine producer Marques del Atrio, acquired in September this year for €26.25 million, the China Daily reports.