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BEIJING, Sept. 12 (Xinhua) -- A senior leader of the Communist Party of China (CPC) on Saturday urged concrete measures to maintain stability, which he described as an "arduous" task. Zhou Yongkang, a member of the Standing Committee of the CPC Central Committee Political Bureau, made the remarks at a meeting after hearing reports on the preparation for the security during the National Day holiday and the situations in the country's far western Xinjiang and Tibet. "While on the whole the social situation is stable, the country now faces grave challenges in maintaining stability, and the task is arduous," Zhou said. Currently, the overwhelming political task is to maintain the stability of the capital, said Zhou. Grand celebrations will be held on Oct. 1 in Beijing to mark the 60th founding anniversary of the People's Republic of China. Zhou urged officials and security workers to "fully prepare themselves for the most complicated situation" in order to ensure the smooth run of all activities during the National Day holiday. Describing the security campaign as a "people's war", Zhou urged the capital's neighboring areas to strengthen security check and stamp out any factors that might harm stability outside Beijing "with utmost efforts." Zhou noted that maintaining stability in Xinjiang, where recent needle attacks caused public scare and triggered mass protests after the riot on July 5, is also one of the most significant missions. The riot left 197 people dead in Urumqi, the regional capital of Xinjiang, while five died during the mass protests in the city last week. In addition, Zhou urged the local government in Tibet Autonomous Region to strengthen management on monasteries and "strictly" prevent any harmful attempts from separatists. He said currently people across the country are all hoping for stability and development and "we are fully confident" in managing the security well around National Day.
BEIJING, Sept. 13 (Xinhua) -- China said on Sunday the U.S. decision to impose special protectionist tariffs on tire imports from China is grave trade protectionism and goes against its commitments made at the Group of 20 summit. "We hereby express our strong discontentment and firm opposition to the U.S. decision, which was made regardless of China's solemn stance," Foreign Ministry spokeswoman Jiang Yu said in a statement. U.S. President Barack Obama decided to impose a tariff on tires imported from China on Sept. 11, which will begin with a 35-percent duty the first year and decrease to 30 percent the second year and 25 percent the third year on passenger vehicle and light-truck tires from China. "The United States, by making the decision, failed to honor its commitments made at the G20 financial summit and abused trade remedy measures, which is grave trade protectionism and will undermine the China-U.S. economic and trade ties as well as the early recovery of world economy," Jiang said. China has lodged solemn representation to the U.S. side and reserves its right to take further actions, Jiang said.

HONG KONG, Sept. 28 (Xinhua) -- The launch of Renminbi sovereign bonds in Hong Kong on Monday shows China's efforts to boost the international use of the yuan step by step, officials and analysts said. The bond issue, worth only 6 billion yuan (878.5 million U.S. dollars), marked a key milestone in the internationalization of the RMB. Hong Kong was chosen for, and will benefit from, the milestone bond sale thanks to its unique position as the international financial center providing desired cushion against the potential risks when the program was launched, analysts said. BOOSTING INTERNATIONAL USE OF RMB The bond issue in Hong Kong came earlier than expected, said Hu Yifan, an economist with CITIC Securities. "The need for the RMB to go international and convertible has been growing along with the increasing importance and openness of the Chinese mainland economy and the risks arising from over- reliance on the United States dollar as the reserve currency," said Tse Kwok-leung, head of economic research of Bank of China ( Hong Kong) Limited. China has been launching pilot RMB programs over the years, but the pace has obviously quickened since the onset of the global financial crisis. Pilot RMB programs launched in Hong Kong over the past 12 months also included yuan-denominated cross-border trade settlement and trade financing, yuan bonds issued by policy banks, commercial lenders and the branches of foreign banks, and currency swaps. The sovereign bond issue would help "boost the international use of the RMB in a steady and orderly manner," the Chinese Ministry of Finance quoted Acting Chief Executive of the Hong Kong Special Administrative Region (HKSAR) Henry Tang as saying. The sovereign bond sale in Hong Kong serves the purpose of water testing to "see how it is received by international investors." Hong Kong has a unique strength in that it provides the desired cushion against potential risks when the pilot programs were launched, given that the mainland capital market was yet to open up, Tse said. BOOSTING NASCENT BOND MARKET IN HONG KONG The bond issue ahead of the Chinese National Day showed the central government's support for Hong Kong, Vice Minister of Finance Li Yong said. It will help Hong Kong build on its strength as an international financial center by boosting the nascent bond market in Hong Kong, Tse Kwok-leung said. "It calls for a banking system, a stock market and a bond market, all developed, to make a developed international financial center," Tse explained. Hong Kong has been aspiring to be the leading international financial center in the Asian time zone. Government statistics showed that the total assets of Hong Kong's banking system and the size of its stock market were both about six times its gross domestic product, compared with a bond market equivalent to 43 percent of its gross domestic product. Bonds issued in Hong Kong in 2008 totaled 424.4 billion HK dollars (54.4 billion U.S. dollars), with 67 percent issued by the Hong Kong Foreign Exchange Fund, which was established to defend the Hong Kong dollar peg to the U.S. dollar. The other 33 percent were accounted for by development banks from outside Hong Kong and corporate bonds issued by local players. There were no sovereign bonds. Tse said the bond issue will also help improve the liquidity of, and diversify, the local bond market. It will also improve the operation of the RMB bond market in Hong Kong by helping find the benchmark interest rate in the local market. Tse said the demand for sovereign bonds issued by an economy as strong as the Chinese mainland was huge, given the impact of the global financial crisis on the corporate bond market. Vice Minister of Finance Li Yong also said he believed the bonds will be well received. "I believe the RMB sovereign bonds will prove popular with investors looking for safe and prudent investments. I definitely think it will be successful," Li said.
BEIJING, Aug. 1 (Xinhua) -- China will implement a nation-wide investigation to find more research and development (R&D) resources to promote the country's agriculture, manufacturing, information technologies and other major industries. The investigation will provide basic scientific data for policy-making of the nation's social and economic development during the 12th Five-Year Plan period (2011-2015), the Ministry of Science and Technology said in a circular on its official website Saturday. It will also help the government monitor and evaluate the ability to make independent innovation as an effort to make China an innovation-oriented country, it said. Six ministries and commissions of the State Council, China's Cabinet, will jointly conduct and finish the investigation by the end of the year. The first such investigation was conducted in 2000. Statisticians around the nation will survey R&D-intensive enterprises and institutions in all the major industries. The survey will focus on the personnel, spending, equipment, projects and institutions for research and development. Moreover, many experts believe the investigation will help China stop wasteful spending in scientific research and promote the national sharing of resources, such as to stop squandering money in redundant purchases of laboratory equipment. China's 2008 research and development spending of the GDP was 457 billion yuan (66.9 billion U.S. dollars), an increase of 23.2 percent from 2007, accounting for 1.52 percent of the annual GDP.
BEIJING, Aug. 11 (Xinhua) -- Prosecutors have approved the arrest of four employees of the Anglo-Australian mining giant Rio Tinto Ltd. on charges of trade secrets infringement and bribery, according to a statement of China's Supreme People's Procuratorate late Tuesday. Preliminary investigations have showed that the four employees, Stern Hu, Liu Caikui, Ge Minqiang and Wang Yong, had obtained commercial secrets of China's steel and iron industry through improper means, which had violated the country's Criminal Law, according to the statement. Prosecution authorities also found evidence to prove that they were involved in commercial bribery. Photo taken on July 9, 2009 shows the Rio Tinto Ltd. Office in Shanghai, east China. Four employees of the Anglo-Australian miner Rio Tinto Ltd. have been arrested over alleged stealing of China's state secrets, including Stern Hu, general manager of the company's Shanghai offic. The four people, including Hu, had been detained by China's security authorities Sunday evening Investigations have also revealed that there were suspects in China's steel and iron enterprises who were providing commercial secrets for them. The four were detained in Shanghai in early July on charges of stealing China's state secrets. Stern Hu, an Australian citizen of Chinese origin, was general manager of the company's Shanghai office and was in charge of the iron ore business in China. Hu was a long-standing employee of Rio Tinto and had lived in Shanghai for a number of years with his wife, who is also an Australian citizen. The other three, who also worked in the Shanghai office, are Chinese employees of the company.
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