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BEIJING, Jan. 9 (Xinhua) -- China said Friday it welcomes and supports the UN Security Council resolution on Gaza. "The resolution reflects the concerns and desires of the international community on the situation in Gaza," Foreign Ministry spokesman Qin Gang said in response to a question. China called for effective implementation by all parties concerned of the new resolution and an immediate ceasefire in Gaza, Qin noted. China also urged Israel to withdraw its forces from Gaza, ensure the smooth operation of humanitarian aid activities and ease the humanitarian crisis in Gaza at an early date, he said. Qin called on all parties concerned to continue the political process to achieve a just and reasonable settlement of the Palestinian-Israeli issue and realize the establishment of an independent Palestinian state and peaceful coexistence. The UN Security Council on Thursday adopted a resolution calling for an immediate ceasefire in Gaza "leading to the full withdrawal of Israeli forces." The new resolution, drafted by Britain, was adopted with 14 voting in favor and the United States abstaining after a compromise was reached between Arab foreign ministers and their Western counterparts. More than 700 Palestinians reportedly died in 13 days of Israeli military action in Gaza, which was undertaken in retaliation for the firing of rockets into southern Israel by Hamas militants.
BEIJING, Jan. 5 (Xinhua) -- Chinese exporters face an increased risk of not being paid for their goods as foreign banks run out of cash and some overseas importers evade paying debts, China's Ministry of Commerce (MOC) warned Monday. "The cases of malicious debt evasion and breach of contracts by importers in certain countries or regions are on the rise," said the ministry in a notice. It attributed the phenomenon to the impact of the deepening global financial crisis. The MOC urged local governments, guilds and overseas Chinese businesses to more closely monitor the credit of foreign importers. Priority should be placed on tracking the credit ratings of foreign lenders, it said. The ministry also called on local governments to support the development of export credit insurance and encourage exporters to carry such insurance by reducing premiums. From January to November last year, China Export & Credit Insurance Corporation (SINOSURE) provided 56.5 billion U.S. dollars of guarantee for exporters against credit risks such as payment default. That is 63.6 percent higher than the same period a year earlier. The reason for the increase is that more exporters sought insurance, company figures show. SINOSURE is China's only policy insurance company undertaking export credit insurance. In that period, SINOSURE paid 210 million U.S. dollars of indemnities, up 174.5 percent from the same period of 2007. In December, the insurer reduced credit ratings for a record 48countries, including the United States. A total of 191 countries were reappraised in December.

BEIJING, Dec. 8 (Xinhua) -- China's annual Central Economic Work Conference opened here Monday to set tone for the economic development next year. Observers believed the three-day event would give priority to efforts to maintain stable economic growth. They reckoned in 2009, China would see more risks for worse economic slowdown, more struggling smaller businesses, grim export situation and arduous task of transformation of economic growth pattern. "It is imperative for China to maintain an economic growth of at least 8 percent," said Zhuang Jian, senior economist with Asian Development Bank's China Resident Mission. It was hard for China to bear the consequences of a too slow GDP growth, Zhuang added, citing bankruptcy of numerous enterprises, more migrant workers being laid off and difficulties for college graduates to find jobs. China's macro-economic policies experienced a dramatic adjustment-- from "preventing economic overheating and curbing inflation" at the beginning of this year to "maintaining growth through expanding domestic demand" at present. In the first three quarters, the nation saw its GDP growth slowed to a single-digit rate for the first time over the past five years, thanks partly to macro-economic control efforts and the ongoing financial woes worldwide. "The Chinese economy has suspended continuous heating and proceeded into a period of slow down," Zhang Liqun, a researcher with the macro economy department under the Development Research Center of the State Council, commented. "The slowdown was worse than expected," said Ma Jiantang, head of the National Bureau of Statistics. Data from the bureau showed that the country's GDP growth was 10.6 percent in the first quarter, 10.1 percent in the second, and9 percent in the third. President Hu Jintao said at the end of November that the Chinese economy was pressurized by global economic downturn, obvious ebbing of demand from abroad and weakening of the country's traditional competitive edge. "Impact from the international financial tsunami on the Chinese economy has begun to show up, and to deepen into various sectors of the real economy," said Wang Yiming, deputy head of the macro economic research institute of the National Development and Reform Commission. Since mid October, the Central Government has promulgated a string of policies and measures to prevent the national economy from sliding drastically. They included end of a tight monetary policy and commencement of a moderately easy one, shifting the fiscal policy from "prudent" to "active", starting projects to improve infrastructure and promote people's livelihood, and, expanding domestic demand. The People's Bank of China announced tax exemptions and downpayment cuts as of Oct. 27 to boost the falling real estate sector. The minimum downpayment for a first-time buyer of a residence smaller than 90 square meters was reduced to 20 percent from 30 percent. Interest rates on mortgages for first-time buyers were cut 0.27percentage point. The floor for interest rates was lowered to 70 percent of the central bank's benchmark rate. The central bank cut benchmark interest rates by 0.27 percentage point as of Oct. 30, the third such move in six weeks. The benchmark one-year deposit rate dropped to 3.60 percent from 3.87 percent, while the benchmark one-year lending rate fell from 6.93 percent to 6.66 percent. Tax rebates were raised for 3,486 export items as of Nov. 1. The adjustment covered such labor-intensive industries as textiles, toys, garments, and high-tech products, accounting for 25.8 percent of products covered by customs tariffs. Rebate rates run roughly from 9 percent to 14 percent. On Nov. 9, state councilors announced a four-trillion-yuan (583.9 billion U.S. dollars) economic-stimulus package, which was seen as the most exciting stimuli in 10 years. To boost consumption, particularly in the rural areas where 900 million people inhabited, was important part of efforts to expand domestic demand, observers believed. China has launched a scheme to subsidize rural residents for buying home appliances since the end of 2007. It is estimated that in a period of four years, nearly 480 million units of refrigerators, washing machines, color TV sets and cell phones, which were in huge demand among farmers, will be sold in rural areas nationwide. That means 920 billion yuan to be spent by rural consumers. "There is still a large room for the government to mull more policies to boost consumption, such as raising the threshold for taxable income and increasing income for lower-income earners," said Cai Zhizhou, an economist with the prestigious Peking University. Export has since long been a major driving force for the Chinese economy. Economists believed the stable development of smaller enterprises, particularly the exporters, which provided jobs for 75 percent of urban employees and rural migrant workers, was related to the stability of the enormous Chinese labor market. How to prevent export from sliding down too fast is one of the top concerns of the Chinese government. "It is no doubt that China's export situation will become more grim next year. However, if the country manages to maintain a moderately fast growth in foreign sales of machines and electronics, it will likely achieve a growth of more than 15 percent in export at large," said Mei Xinyu, a trade expert with the Ministry of Commerce. China has taken a string of measures to boost development of smaller enterprises. "It is necessary for the government to work out more detailed, effective methods to mitigate tax burdens and enhance credit support for smaller businesses, and to help them with their efforts to promote technical upgrading and explore more markets," said Zhao Yumin, another economist with the Ministry of Commerce. The service sector, which was able to provide numerous jobs, was yet to be expanded substantially, Zhao added. Zhang Xiaojing, a senior economist with the Chinese Academy of Social Sciences, said that it was definitely wrong for China to waive long-term goals for short-term interests. He believed that to promote the shift of economic growth pattern and maintain the sustainable economic growth would be one of the important topics for the ongoing Central Economic Work Conference.
BEIJING, Jan. 11 (Xinhua) -- Four U.S. ambassadors in Beijing on Sunday eyed a continued China policy under the Obama administration. "I am optimistic that U.S-China ties will continue to improve and remain steady in the years ahead. In fact, they are getting better," former U.S. ambassador to China James Sasser told reporters on the sidelines of a reception marking the 30th anniversary of China-U.S. diplomatic relations. Sasser was one of about 200 personages from the two countries attending Sunday's reception, held in the U.S. new embassy in Beijing. Sasser, who served as ambassador from 1996 to 1999, said he didn't see "significant tensions" in current bilateral relations and believed there would be more improvements in the years ahead. Echoing Sasser's view, another former U.S. ambassador to Beijing Winston Lord said, "Overall, the American policy with China will remain essentially the same under the Obama administration." "If you look at what Obama has been saying about U.S.-China relations, look at what type of people he has been appointing to key foreign policy positions, these suggest great continuity," said Lord, who was one-time aide to Secretary of State Henry Kissinger and part of the U.S. delegation during Richard Nixon's ground-breaking visit to China in 1972. "We had 7 presidents since President Nixon, both democratics and republicans. All of them have pursued essentially the same policy with respect to China," said Lord, who served as ambassador to China between 1985and 1989. "It doesn't mean we won't have problems. But I think interests are much bigger than our problems," he said. Stapleton Roy, who served as ambassador in Beijing from 1991 to 1996, said the Obama administration would continue to cooperate with China. "There are so many issues the two countries have to deal with in the world. The have to work together." Looking to the future, Roy said the most serious issue the two countries have to deal with is the economic crisis. He called for the two countries to work more closely and take concerted actions. "In 1979, who among us would have thought that 30 years later the United States and China would be meeting regularly on regional hot spots in third countries or they would be working together to deal with the world financial crisis," current U.S. Ambassador in Beijing Clark Randt told the reception. As a metric of the development of bilateral relations, Randt said there were 36 Americans working in the U.S. embassy in Beijing in 1979. "In October 2008, when we moved to this new building, we had a staff of 1,100, the second biggest U.S. embassy in the world," Randt said. "The new embassy itself was a tangible expression to the importance of the development of U.S.-China relations, the most important bilateral relationship in the world." As the world gets more complicated, Randt said interdependence and complementariness between the two countries would become even more important and the relationship would continue to get better.
BEIJING, Nov. 27 (Xinhua) -- China's Party discipline watchdog Thursday vowed to put government-funded projects under scrutiny when the country is investing 4 trillion yuan to stimulate the economy. "We would try to prevent corruption, when a project is tabled for review and approval, when the land is allocated to it, when a public bidding is held for contractors," said He Yong, deputy secretary of the Communist Party of China Central Commission for Discipline Inspection (CCDI), at a meeting here Thursday. Besides government-funded ones, other projects with state investment would also be the top priority, he said. The CCDI would issue a set of rules to regulate business activities and officials' work as soon as possible, he said. For instance, it would push local governments to publicize urban planning documents, which listed infrastructure projects to be implemented, and issue detailed rules to protect fair play in public bidding. To curb graft in this field, discipline officers would also target commercial bribery, which has implicated officials. They will establish a database specially for commercial bribery cases. A company involved in such cases would be excluded from any business, He said. On Monday, the CCDI also issued a statement jointly with the National Development and Reform Commission (NDRC), the Ministry of Supervision, the Ministry of Finance and the National Audit Office to ensure close supervision on the stimulus package. The statement said two dozen inspection teams will be sent to follow projects funded by the package.
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