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Coronary stents are expected to become available in Chinese hospitals at roughly 1,000 yuan or 150 U.S. dollars.
The price point has dropped by over 90 percent from the current 10 thousand yuan.
This comes in the first round of the Chinese government's centralized purchasing program for high-value medical commodities, held in Tianjin on Thursday.
It is estimated that the price cut will save patients a total of 10.9 billion yuan in expenses.
Chinese authorities say that more than 9.6 million residents living in inhospitable, poor areas have been relocated to around 35 thousand newly-built residential communities as part of poverty alleviation efforts.
Vice Minister of Civil Affairs Wang Aiwen says their focus will now shift to helping those people to fit into their new lives.
"All the poverty-alleviation tasks of relocating impoverished people from inhospitable areas set in the 13th Five-Year Plan have been accomplished and the poverty reduction effort has entered into a new stage which is centered on follow-up support."
Wang adds that the authorities are now working to help these residents to find jobs.
They will launch a number of policies to encourage businesses to set up factories around these communities.
Democrat Joe Biden is closing on President Donald Trump in tense vote counts in Pennsylvania and Georgia, two states that the current occupant of the White House cannot afford to lose if he is to keep alive his hopes of a second term.
Biden so far has 253 electoral votes and the President has 213, according to CNN projections.
The United States has reported a record high number of new, daily COVID-19 cases.
The country added more than 100-thousand new cases and over 1100 new deaths on Wednesday.
Data also shows that daily new confirmed cases in the U.S. have surged 45 percent over the past two weeks to a record seven-day average of nearly 90-thousand.
The U.S. has so far confirmed more than 9.5 million COVID-19 cases and over 230-thousand deaths.
The U.S Federal Reserve has kept its benchmark interest rate unchanged at a record-low level of near zero amid uncertainty about the final result of the presidential election.
The Fed says in a statement that the path of the U.S. economy will depend significantly on the success of efforts to contain the novel coronavirus, vowing to use its full range of tools to support the economy.
Fed Chair Jerome Powell says the economic outlook is uncertain and that a full economic recovery is unlikely until people are confident that it's safe to re-engage in various activities.
The Fed cut interest rates to near zero at two meetings in March and began purchasing massive quantities of U.S. treasuries and agency mortgage-backed securities to repair financial markets.
New Delhi, the capital city with the worst air quality globally, has suffered its most toxic day in a year.
The city on Thursday recorded a concentration of PM2.5 particles at 14 times over the World Health Organization safe limit.
Environmentalist Vimlendu Jha says the situation is going to get worse.
"The situation, as per meteorological department, is only going to get worse in the next 24 hours, before it clears out. Given the COVID situation and the dip in the temperature, the situation is only going to get worse and it will have an adverse effect, impact on the overall health of the citizens of Delhi."
Parts of Denmark will face new, tougher lockdown measures after a mutated coronavirus strain was discovered in minks and people in the northern parts of the country.
The government says it will cull up to 17 million animals to prevent human contagion with a mutated coronavirus.
The culling could cost the state more than 800 million US dollars and Danish mink breeders say this could mean the death of the country's pelt industry.
