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BEIJING, April 14 (Xinhua) -- China's top political advisor Jia Qinglin on Tuesday called for increased efforts of democratic parties and the All-China Federation of Industry and Commerce to promote the development of a poverty-stricken city in southwest China. Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), made the call at a working conference on supporting the construction of Bijie, a city in Guizhou Province. Bijie was approved by the State Council, China's cabinet, in 1988 as a trial zone featuring ecological environment protection and construction, development and poverty-alleviation. Jia said the significant economic and social achievement made in Bijie over the past 20 years exemplifies the enormous advantages of the political system of multi-party cooperation and the political consultation system under the leadership of the Communist Party of China (CPC). Jia outlined three major tasks for Bijie's future development: development and poverty alleviation, ecological construction and population control must be firmly grasped. He also called for efforts to explore new ways to develop the region. Efforts should be made to pursue leap-forward development in both economy and society in the region, he said. In the same meeting, Du Qinglin, head of the United Front Work Department of the CPC Central Committee, said the construction of Bijie trial zone had made significant phase achievements. The region, where the poor once struggled to have adequate food and clothing, was on its way to becoming a place where the people can generally lead a well-off life, he said. Over the past two decades, people from the democratic parties offered enormous support to develop the hilly hinterland region that is home to more than 20 ethnic minorities. They helped to contribute to local education programs, training of migrant workers, building local medical institutions, constructing hydropower stations and helped tackle prevailing ecological problems including desertification. The CPPCC is a patriotic united front organization of the Chinese people, serving as a key mechanism for multi-party cooperation and political consultation under the leadership of the CPC, and a major manifestation of socialist democracy.
BEIJING, April 11 (Xinhua) -- Credit extended by China's banks in the first quarter hit 4.58 trillion yuan (670 billion U.S. dollars), the People's Bank of China (PBOC) said Saturday. In March alone, new yuan-denominated loans increased 1.89 trillion yuan. It was the third straight month that new loans exceeded 1 trillion yuan. "It is not beyond market expectations. The increase was boosted by the 4-trillion-yuan stimulus plan and showed the possibility of a faster economic recovery in China compared with other countries," said Zhang Qizuo, vice director of China International Economy Society. Premier Wen Jiabao said on March 5 at the opening of the annual session of the National People's Congress, China's legislature, that new yuan-denominated loans this year were expected to reach 5 trillion yuan. Historical data show the first-quarter bank credit usually accounts for more than 60 percent of the year's total. "There is a time lag between the credit increase and actual use of capital, but the big increase will surely lay a solid foundation for the recovery of the real economy," said Zhang. In the first quarter, the central bank withdrew 47.3 billion yuan from circulation, 78.5 billion yuan more than the same period of last year. "The increase in currency withdrawal from circulation showed the central bank was carefully watching the credit growth," said Yuan Gangming, an economist with Tsinghua University. Zhuang Jian, an economist at the Asian Development Bank, said the regulators should pay attention to the quality of new loans and prevent bad loans. By the end of February, non-performing loans by Chinese banks totaled 1.53 trillion yuan, 17.5 billion yuan less than the start of the year. The structure of credit growth was also improving. The proportion of bill financing fell to about 22 percent in March from 47 percent in February, though still much higher than the average of 5 percent. "The decline in bill financing is a good sign. It means company activities are increasing and the credit's impact on the economy is strengthening," said Zhuang. Through March, the M2 figure -- a broad measure of money supply,which covers cash in circulation and all deposits -- grew 25.5 percent from a year earlier to 53.06 trillion yuan. The narrow measure of money supply, M1 (cash in circulation pluscorporate current deposits), was up 17.04 percent year on year to 17.65 trillion yuan. "The fast rebound of M2 indicates China's liquidity is abundant. This is very important to the economic recovery. The sharp rise of M1 shows companies are increasing spending on investment and management." said Zhang Bin, an economist with Chinese Academy of Social Sciences.
BEIJING, April 13 (Xinhua) -- China's Ministry of Finance (MOF) said Monday that fiscal revenue fell 0.3 percent from a year earlier to 440.22 billion yuan (64.43 billion U.S. dollars) in March. First-quarter fiscal revenue fell 8.3 percent to 1.46 trillion yuan, the ministry said on its website, while tax revenue shrank 10.3 percent to 1.3 trillion yuan. Fiscal revenue includes taxes as well as administrative fees and other government income, such as fines and income from government-owned assets. Business profits shrank as economic growth slowed, the MOF said, and tax cuts intended to spur the economy and the financial markets reduced government revenues. First-quarter business income tax revenue fell 16.7 percent. China halved the purchase tax on cars with engine displacements of less than 1.6 liters on Jan. 20, and revenue from that tax was down 7.6 percent in the first quarter. To shore up the stock market, the government cut the share trading stamp tax from 0.3 percent to 0.1 percent last April and scrapped the stamp tax on stock purchases in September. And even though the benchmark Shanghai Composite Index is up more than 35 percent so far this year, the tax cuts on share transactions meant a decline of 86.2 percent in revenue from that category in the first quarter. Actual revenue amounts in each category were not released. Customs tariff revenue fell 23.9 percent during the first quarter, the MOF said, without giving further details. Central government fiscal revenue fell 17.7 percent in the first quarter to 721.3 billion yuan, while local government fiscal revenue rose 3 percent to 742.9 billion yuan. First-quarter fiscal expenditures surged 34.8 percent to 1.28 trillion yuan, as both the central and local governments adopted a proactive fiscal stance to boost the economy and domestic demand. China unveiled a 4-trillion-yuan stimulus package in November to be spent over in next two years, with 1.18 trillion yuan from the central government. Fiscal revenue exceeded 6.13 trillion yuan in 2008, up 19.5 percent.
BEIJING, Feb. 27 (Xinhua) -- Chinese President Hu Jintao has urged all officials receiving public grievances to learn from the hard working style of the late Pan Zuoliang (1965-2008). Pan had worked as director of the Letters and Calls Bureau of Liaozhong County, Liaoning Province, northeast China, until May 9,2008, when he died of a sudden cerebral hemorrhage on duty. Pan Zuoliang (1965-2008) had worked as director of the Letters and Calls Bureau of Liaozhong County, Liaoning Province, northeast China, until May 9,2008, when he died of a sudden cerebral hemorrhage on duty."Build the letters and calls departments into a sector that is first-class regarding their work and satisfactory to the people," said Hu, also general secretary of the Communist Party of China (CPC) Central Committee, in an instruction to a meeting of officials at the Great Hall of the People, in central Beijing, Friday. Prior to the gathering, Zhou Yongkang, a member of the Standing Committee of the CPC Central Committee Political Bureau, called Pan a model for grassroots Party members and officials. "Pan had always lived among the people and helped the Party and the people to get over difficulties," he said. People send Pan's coffin off spontaneously. Pan Zuoliang (1965-2008) had worked as director of the Letters and Calls Bureau of Liaozhong County, Liaoning Province, northeast China, until May 9,2008, when he died of a sudden cerebral hemorrhage on duty.Zhou urged all officials to "prevent and resolve inharmonious, unstable factors" in the country. After his death, Pan was made an "Excellent Letters and Calls Official Who Help the Party and the People Resolve Difficulties" and a "National-level Excellent Letters and Calls Official" by the Liaoning Provincial Communist Party Committee and the State Bureau for Letters and Calls.
BEIJING, March 15 (Xinhua) -- The following is the full text of the Report on the Implementation of the 2008 Plan for National Economic and Social Development and on the 2009 Draft Plan for National Economic and Social Development, which was submitted on March 5 for review at the Second Session of the 11th National People's Congress: REPORT ON THE IMPLEMENTATION OF THE 2008 PLAN FOR NATIONAL ECONOMIC AND SOCIAL DEVELOPMENT AND ON THE 2009 DRAFT PLAN FOR NATIONAL ECONOMIC AND SOCIAL DEVELOPMENT Second Session of the Eleventh National People's Congress March 5, 2009 National Development and Reform Commission Fellow Deputies, The National Development and Reform Commission has been entrusted by the State Council to report on the implementation of the 2008 plan for national economic and social development and on the 2009 draft plan for national economic and social development for your deliberation and approval at the Second Session of the Eleventh National People's Congress (NPC), and also for comments and suggestions from the members of the National Committee of the Chinese People's Political Consultative Conference (CPPCC). I. Implementation of the 2008 Plan for National Economic and Social Development The year 2008 was an extraordinary and eventful year for China. Our country's economic and social development experienced a variety of severe challenges and tests that were hardly anticipated and rarely seen. Under the leadership of the Communist Party of China (CPC), the people of all our ethnic groups thoroughly applied the Scientific Outlook on Development, followed the plan for national economic and social development adopted at the First Session of the Eleventh NPC, surmounted numerous difficulties, and eliminated interference from emergencies of all kinds. Finally, we won great victories in dealing with the devastating snow and ice storms in parts of the south and the massive earthquake that hit Wenchuan, Sichuan Province. We successfully held the Beijing Olympic and Paralympic Games and accomplished the Shenzhou VII manned space flight mission. In particular, we actively responded to the severe impact of the global financial crisis, sustained steady and fairly rapid economic development and maintained social harmony and stability. The Plan for 2008 was, on the whole, implemented well. 1. The economy grew steadily and rapidly. China's GDP topped 30 trillion yuan in 2008, a year-on-year increase of 9.0% and more than five percentage points higher than the average world economic growth rate. The value-added of large industrial enterprises increased by 12.9% over 2007, with that of light and heavy industries rising 12.3% and 13.2% respectively. Retail sales of consumer goods rose 21.6% to 10.85 trillion yuan, up 4.8 percentage points. Fixed asset investment across the country totaled 17.23 trillion yuan, up 25.5%. Domestic demand, particularly consumer demand, played a greater role in boosting economic growth. Economic performance continued to improve. National revenue reached 6.13 trillion yuan in 2008, up 19.5% year on year. Energy consumption per unit of GDP continued to decline in 2008, down 4.59%. Sulfur dioxide emissions and chemical oxygen demand kept falling, down 5.95% and 4.42% respectively, and this trend became more firmly set. Water consumption per 10,000 yuan of value-added by industry dropped by 7.0%. Efforts were intensified to use land more economically and intensively, resulting in continued improvement in land-use efficiency. 2. There was a gradual decline in the rate of price increase. We adopted comprehensive policies and measures to counteract the great pressure that ballooning domestic food prices and the surge in the prices of grain and oilseed on the international market in the first half of 2008 placed on our efforts to stabilize prices. On the one hand, we worked to ensure adequate supplies. We formulated and implemented supporting policies to boost grain, oilseed and egg production and hog and dairy farming. We strengthened the emergency allocation and transport of important farm and sideline products, improved coordination between their production and sale, and alleviated problems concerning the sale and distribution of grain in northeast China and farm products in some areas, especially disaster-stricken areas. We took measures that combined fiscal and tax policy support, export controls, import inducements and manipulation of state reserves to ensure adequate market supplies and steady prices for important commodities such as grain, refined petroleum products and fertilizer. On the other hand, we strengthened market oversight. We instituted temporary measures to hold down the prices of grain, edible vegetable oil and other important commodities. We organized and carried out inspections focused on prices for agricultural supplies, refined petroleum products, medical care and drugs, and charges related to farmers, enterprises and education; actively encouraged business managers to exercise self-discipline in setting prices; and severely cracked down on violations of the law such as hoarding for speculation and colluding to drive up prices. At the same time, we raised the level of the cost of living allowances twice to ensure that the basic living standard of low-income groups would not be significantly affected by price increases. Beginning in the fourth quarter, the inflationary pressure subsided considerably. The consumer price index (CPI) rose by 5.9% for the year. The rate of price increase for means of production, including agricultural supplies, also fell rapidly, with producer prices for means of production in December down 1.9% year on year and the inflation rate for agricultural supplies down 12.4 percentage points from its July high.