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BEIJING, Aug. 26 (Xinhua) -- Chinese Vice Premier Li Keqiang has stressed the development of the service industry as part of the government's efforts to promote economic restructuring and to accelerate the transformation of its economic development pattern.Li made his remarks at a meeting focusing on the development and reform of the service industry sponsored by the National Development and Reform Commission (NDRC) on Thursday.The service industry is not only conducive to expanding job opportunities, but also has a low cost of resources, Li said.He further called on local authorities to be innovative in using their regulatory systems to shore up the development of the service industry.Representatives from Shanghai, and provinces of Liaoning, Jiangsu, Hubei and Sichuan explained their experiences in creating service industries.
HONG KONG, Sept. 22 (Xinhua) -- Hong Kong stocks gained 45.12 points, or 0.21 percent to close Wednesday's trading at 22,047.71.The benchmark Hang Seng Index traded between 22,229.18 and 22, 021.6 on a turnover of 69.08 billion HK dollars (about 8.9 billion U.S. dollars).All the four sub-indices of the benchmark index landed in the positive territory, with properties advancing the most by rising 1. 2 percent.Heavyweight HSBC slid 0.49 percent to 81.1 HK dollars, extending its falling streak to the third day this week. The nation's telecom giant China Mobile gained 0.38 percent to 79.8 HK dollars. Sole market operator HK Exchange rallied 1.35 percent to 142.5 HK dollars.For financial shares, CCB, which accounts for the third largest weighting of the Hang Seng Index, went up 0.59 percent to 6.77 HK dollars. Meanwhile, the nation's largest lender by market value ICBC shed 0.17 percent to 5.84 HK dollars, Bank of China up 0.25 percent to 4.09 HK dollars and Bank of Communication down 0.36 percent to 8.4 HK dollars.The two leading mainland-based insurers went to different directions as Ping An slumped 0.6 percent to 74.4 HK dollars and China Life moved up 0.32 percent to 31.5 HK dollars.Local developers remained strong following two days of upward move. Cheung Kong, the flagship company of Hong Kong's richest man Li Ka Shing, advanced 2.11 percent to 111.5 HK dollars.Another major developer SHK rose 1.79 percent to 125.2 HK dollars and the city's main residential builder Henderson Land jumped 2.63 percent to 52.65 HK dollars. Oil shares put on mixed performances, with Sinopec up 0.91 percent to 6.67 HK dollars, PetroChina up 0.46 percent to 8.71 HK dollars and CNOOC down 1.36 percent to 14.5 HK dollars.Aside from constituents stocks, China's leading electric motor manufacturer BYD was also among the most active. Share price of the Shenzhen-based company went down 3.56 percent to 54.2 HK dollars. (7.76 HK dollars equal one U.S. dollar)
JINAN, Sept. 18 (Xinhua) -- Chinese Vice Premier Hui Liangyu has called on authorities to give more support to the country's major grain production areas so to ensure grain supply and security.Hui made the comments while attending a grain production seminar held in Yantai City of east China's Shandong Province on Friday and Saturday.The vice premier demanded efforts be undertaken to promote agricultural production in the country's major grain production areas, which he said were of great importance to China's agricultural development.Hui urged authorities to offer financial assistance to these areas and ensure the continuous increase of farmers' incomes.China was facing and would be confronted by increasing challenges in grain production, such as the challenge to meet market demand for agricultural products and ensure quality, Hui said.To address these challenges, he said China must improve support to farmers to increase their enthusiasm for growing grain.Efforts should also go to improving production capacity in the agriculture sector, promoting agricultural technology progress and accelerating agricultural reform, the vice premier said.During the rest of the year, relative authorities should focus on improving agricultural production management and disaster prevention to guarantee a bumper autumn grain harvest, as well as ensuring market supplies and price stabilization of commodities such as vegetable, meat, grain and edible oil, he said.
WASHINGTON, Oct. 7 (Xinhua) -- China's growth is a very important force in the global recovery, World Bank Group President Robert B. Zoellick told reporters here on Thursday in response to a Xinhua question.Zoellick made the remarks during a press briefing ahead of the Bank's annual meeting this weekend.Asked what China can contribute to the world development, the president, who just concluded a week-long China tour last month, said China's growth itself is important contribution to the world. World Bank President Robert B. Zoellick hosts a press briefing ahead of the annual meetings of the International Monetary Fund (IMF) and the World Bank in Washington D.C., capital of the United States, Oct. 7, 2010.China's economy is projected to grow 10.5 percent in 2010 and 9. 6 percent in 2011, driven by domestic demand, according to the biannual World Economic Outlook (WEO) released by the International Monetary Fund (IMF) on Wednesday."China's strong and sustained growth over the past several years has served as a linchpin for global trade, benefiting exporters of commodities and capital goods," said the report.The World Bank chief stressed the importance of new multi-polar economy requiring multi-polar knowledge, with rising economies contributing new experiences to the world.Recovery is happening, but not quick enough to bring enough jobs, and the economic downturn is still hurting people's jobs and lives, said Zoellick."We need a more balanced and sustainable growth," he added.Zoellick also warned of a potential resurgence of protectionism in the post-crisis period. He stressed that protectionism is not a way out, and it may only risk the repetition of mistakes of the 1930s.
BEIJING, Aug. 29 (Xinhua) -- Xie Yun, a 24-year-old new graduate, felt excited when he opened the door of the 50-square-meter apartment he rented in Changzhou city of east China's Jiangsu Province.Starting work in a computer company in July, Xie is one of the lucky few who enjoyed lower rents offered as part of the local government's affordable housing program. He pays 4.5 yuan per square meter for one month, around 10 percent of his monthly income.Also, the apartment is equipped with an air conditioner, a TV set and automatic drying racks."I'm quite satisfied, and I prefer to rent such an apartment rather than buy one," said Xie.Xie's home is one of 133 small-sized public-rent apartments purchased by the Changzhou government and rented to low-income families and the newly employed. Monthly rents varied from 3.5 yuan to 4.5 yuan per square meter, about 30 percent of the average price in Changzhou.In the city's southern section, migrant workers pay even lower costs."I only need to pay one yuan per day for renting a bed in the dormitory-like apartment, sharing a balcony and a toilet with eight people," said Chen Ling, an 18-year-old worker in an electronic firm in Changzhou.The 260,000-square-meter residential community provides 5,000 migrant workers with basic living facilities, including a supermarket, shopping mall, bank, Internet bar and dining hall.The Changzhou government has so far built as well as bought 10,500 units of public-rent housing, and offered 11,400 units of low-rent homes to migrant workers.