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BEIJING, April 11 (Xinhua) -- China's foreign exchange reserves rose 16 percent year-on-year to 1.9537 trillion U.S. dollars by the end of March, said the People's Bank of China on Saturday. It represents an increase of 7.7 billion dollars for the first quarter, but the increase was 146.2 billion dollars lower than the same period of last year. Outstanding foreign currency loans stood at 235.2 billion U.S. dollars by the end of March, down 11.7 percent year on year. In the first quarter, foreign currency loans dropped by 8.5 billion U.S. dollars. The decline was 57.3 billion U.S. dollars heavier over the same period of last year. In March, foreign currency loans rose by 4.3 billion U.S. dollars. The increase was 6.4 billion U.S. dollars lower than the same period of last year. Meanwhile, outstanding foreign currency deposits rose 28.9 percent, or 7.5 billion U.S. dollars, to 200.3 billion U.S. dollars in the first quarter. The increase was 13 billion U.S. dollars higher over the same period of last year. In March alone, foreign currency deposits rose by 3.3 billion U.S. dollars. The increase was 1.8 billion U.S. dollars higher over the same month in 2008. Analysts said the smaller growth of foreign exchange reserves in the first quarter was related with changes in the value of non-U.S.-dollar assets and money flows under the capital account. In March alone, the foreign exchange reserves rose by 41.7 billion U.S. dollars. The increase was 6.7 billion U.S. dollars higher than the corresponding period of last year. The country's foreign exchange reserves reduced to 1.914 trillion U.S. dollars at the end of January and 1.912 trillion U.S. dollars at the end of February. "Changes of foreign exchange reserves in the first quarter were mainly driven by non-U.S.-dollar assets' volatile fluctuation," said Liu Yuhui, an economist with Chinese Academy of Social Sciences (CASS). During the first quarter, especially the first two months, non-dollar foreign currencies dropped heavily against the U.S. dollar, leaving about 40 percent of the country's non-dollar assets depreciated. Meanwhile, the country's trade surplus had reduced during the first quarter due to a weakening external demand. Exports fell 17.5 percent in January, 25.7 percent in February and 17.1 percent in March. In February, trade surplus plummeted by34.3 billion U.S. dollars to 4.8 billion. "The 7.7-billion-dollar increase in foreign exchange reserves for the first quarter showed the country's economy still depends heavily on external demand," said Mei Xinyu, an economist with the Ministry of Commerce (MOC). Yuan Gangming, a researcher with the CASS, said the smaller increase in foreign exchange reserves might also be caused by capital flight. Official statistics show during the first two months, the actually-utilized foreign direct investment dropped by 26.2 percent. A large proportion of the country's foreign exchange reserves are invested in U.S. treasuries and notes. Last month, the U.S. Federal Reserve announced a plan to buy up to 300 billion U.S. dollars in long-term treasuries. That added to worries in the value stability of the country's foreign exchange reserves. Mei said the slower growth in foreign exchange reserves could be conducive to the national economic security because less capital would be exposed to devaluation risks. "The top priority should be to keep the value of foreign exchange reserves stable," said Yuan. He suggested relevant authorities should keep a close eye on flows of foreign reserves and prevent a similar capital flight that happened after the Asian financial crisis.
BEIJING, Feb. 13 (Xinhua) -- A new entry in government-issued press cards, to be added later this month, might help many Chinese reporters persuade tight-lipped officials to talk. The entry will say: "The governments at all levels should facilitate the reporting of journalists who hold this card and provide necessary assistance." "Without a proper reason, government officials must not refuse to be interviewed," said Zhu Weifeng, a senior official with the General Administration of Press and Publication. Many considered this a positive signal that the authorities welcomed supervision from the media. The new press card statement followed a regulation on the disclosure of government information, effective last May, which was the first government rule safeguarding citizens' right to be informed. "Media and public supervision are among the arrangements the country is making to control the power of the state and protect civil rights," said Li Yunlong, a human rights expert at the Institute for International Strategies of the Party School of the Central Committee of the Communist Party of China (CPC). "How to prevent state power from infringing on civil rights is a very important issue in human rights protection," Li said. This week, the United Nations Human Rights Council in Geneva conducted its first review of China's human rights record, and it acknowledged the country's efforts in human rights protection. The country took a long and winding road to acceptance of the concept of "civil rights" but was headed in the right direction, Li said. "I have seen a trend toward increasing supervision of the authorities and more restrictions on their power." Mo Jihong, a research follow with the Law Institute under the Chinese Academy of Social Sciences, saw the same trend in legislation. "The changes in the Constitution were obvious," said Mo. China's first three Constitutions, issued respectively in 1954,in 1975 and 1978, all had a chapter on the fundamental rights and duties of citizens. But none of those versions defined "citizen," which affected the implementation of these items, he said. The current Constitution, adopted in 1982, closed this loophole and put the chapter on citizens' rights before that of the structure of the state, he said. "It showed the country acknowledged that the state derived its legitimacy through protecting citizens' rights, rather than by giving rights to citizens." In 2004, an amendment to the Constitution added an article stating that the state respects and preserves human rights. "Through the amendments, the Constitution gave more responsibility to state organs to protect civil rights," Mo said. The country has also adopted laws to restrict the exercise of state power. In 1990, the law on litigation against the administration provided the first way for the common people to sue government departments. Further, the law on legislation, adopted in 2000, included an article stating that only laws can limit personal freedom. This had the effect of barring any authority, except the legislature, from issuing regulations or rules to limit personal freedom. "But the implementation of laws remained a problem," Mo said. "The authorities who enforce the laws should be carefully watched." Li noted that China's unique culture played a role. Traditionally, Chinese seldom talk about "rights" but instead stress the concept of people's obedience to the society. "Civil right is a concept borrowed from the West. That's why it will take time to make everyone aware of it, especially those holding power," he said. "But we should not give up because we don't have such a tradition," he said. "China does not need to make itself a Western nation but can explore its own way based on its own culture and reality," he said. Last year, in the wake of an increasing number of protests nationwide, the government launched a campaign requiring officials to talk with citizens and consider their requests regularly. The move proved to be an effective way to ease public anger and reduce misunderstanding. A trial program to invite independent inspectors to detention houses in northeast Jilin Province also received acclaim as an innovation in this field. The two-year program ended late last year. The 20 independent inspectors, who were teachers, doctors, businessmen and community workers, examined conditions in these detention houses and examined their records so as to ensure that custody procedures were in line with the law and detainees were not treated inhumanely. "The concept of 'putting people first' raised by the present CPC leadership can be regarded as an effort to respect and protect civil rights," Li said.
BEIJING, March 27 (Xinhua) -- Chinese President Hu Jintao said here Friday that the "good situation" in today's Tibet was "hard-earned and should be highly cherished." Hu said during his visit to an exhibition marking the 50th Anniversary of Democratic Reform in Tibet, at the Cultural Palace of Nationalities in Beijing, that the reform 50 years ago was "the most extensive, profound and progressive social transformation in the history of Tibet." All the nine members of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee visited the exhibition, including top legislator Wu Bangguo, Premier Wen Jiabao, and top political advisor Jia Qinglin. Chinese President Hu Jintao, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, visits an exhibition marking the 50th Anniversary of Democratic Reform in Tibet, at the Cultural Palace of Nationalities in Beijing, capital of China, on March 27, 2009 The exhibition, opened on Feb. 24, 2009, showcases archives, cultural relics, photos, videos, and restored landscapes that have recorded the great changes Tibet has gone through since 1959, when serfdom was abolished. The exhibits show that Tibet has been a part of China since the Yuan Dynasty (1271 to 1368 A.D.). Also exhibited are scenes of surfs being exploited by their owners in the old times and how they were liberated 50 years ago. The exhibition puts on videos recording the March 14th Riot in Lhasa last year and the major projects the Chinese government has sponsored in the plateau, such as the Qinghai-Tibet Railway and the Tibet Gymnasium. It also includes photos about Tibetan people's lives today. When visiting the exhibition, Hu stressed that, only by staying in the big family of the motherland under the leadership of the CPC, can the economy and society of Tibet develop by leaps and bounds, and the people of Tibet be the owner of the country together with other Chinese ethnics. Tibet should speed up economic development and further improve the living standards of people living there, especially the peasants and herdsmen, Hu said. Hu also said that Tibet should move from being "basically stable" to "peaceful and stable in the long run." The exhibition, co-organized by the State Council Information Office, the State Ethnic Affairs Commission and the Tibet Autonomous Region, has attracted about 137,000 visitors since its opening.
BEIJING, April 14 (Xinhua) -- Chinese President Hu Jintao on Tuesday met with Papua New Guinea's Prime Minister Michael Thomas Somare.In their meeting at the Great Hall of the People in downtown Beijing, Hu said bilateral relations have made significant progress since both countries forged diplomatic ties in 1976, citing frequent high-level visits, deep political trust and fruitful cooperation in all fields. Hu appreciated Papua New Guinea's unswerving adherence to the one-China policy and support on China's peaceful reunification. Chinese President Hu Jintao (R) shakes hands with Papua New Guinea's Prime Minister Michael Thomas Somare during their meeting in Beijing, capital of China, April 14, 2009. Hu said Papua New Guinea was an important Pacific island country and played a crucial role in regional affairs. Hu said his country regarded Papua New Guinea as a good friend and partner in pacific islands. On the economic front, Hu said both countries were complementary and had a broad prospect for cooperation. He proposed both countries step up mutually-beneficial cooperation in key areas such as trade, agriculture, forestry, fishery, transportation, resources and energy. Hu said the Chinese government encouraged and supported Chinese businesses to invest and operate in Papua New Guinea. Somare, who was here for an official visit, said Papua New Guinea cherished its relations with China, which was a sincere and reliable partner. Somare said his country respected China's sovereignty and territorial integrity and adhered to the one-China policy. He thanked China for offering generous assistance to his country for many years. He said his country would like to work more closely with China on trade, energy, resources and construction. Somare is to visit south China's Hainan Province for the 2009 meeting of the Bo'ao Forum for Asia (BFA) from April 17 to 19.
ISTANBUL, Turkey, March 21 (Xinhua) -- The World Water Council (WWC) is ready for China's membership, WWC President Loic Fauchon said here Saturday evening. During his meeting with Chinese Minister of Water Resources Chen Lei on the sideline of the 5th World Water Forum, Fauchon said he welcomes China to "the WWC family," and "we are ready to sign the agreement" which just need a few days to finalize the details of the pact. "We need your experience and your tradition, It will be a nice relation," he added. Chen said China is willing to participate WWC activities and China will shoulder the obligation and responsibility when it becomes a member. Chen invited the president to visit Beijing. Fauchon said he is glad to visit the Chinese capital in May or June, when the both sides are expected to ink the pact. WWC, created by a number of key water institutions in 1996, unites over 300 member organizations from more than 60 countries. It is an international multi-stakeholder platform "to promote awareness, build political commitment and trigger action on critical water issues at all levels."