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BEIJING, Dec. 6 (Xinhua) -- Chinese credit rating firm Dagong Global Credit Rating assessed the sovereign credit rating of Ireland at BBB in its third sovereign or regional credit rating report released Monday.Dagong's credit rating of Ireland is lower than that given by Moody's, Standard and Poor's and Fitch."Dagong made its assessment based on factors such as Ireland's increasing debt level, the administrative capability of its government, economic and financial strength," Dagong Global said.Dagong Global's announcement follows the proposed 85-billion-euro bailout of debt-hit Ireland by the European Union and the International Monetary Fund.Dagong's report also rated four other nations - Finland, Uruguay, Kenya and Sudan.In terms of domestic currency-denominated debt, Finland received the firm's top AAA rating, but with a negative outlook.Uruguay was rated BB-plus while Kenya received a B rating.Sudan was rated C, the nation's first sovereign credit rating.Dagong Global uses a three-level assessment system, with each level containing three sub-levels. For example, AAA, AA and A.The rating agency published sovereign credit ratings in two earlier reports. One on July 11 rated 50 countries. The second on October 20 rated nine countries and regions.Founded in 1994, Dagong Global is a pioneer in the rating of industry, region and sovereign debt. It is also a leading credit rating firm for corporate bonds, financial bonds and structured debt.
BEIJING, Jan. 3 (Xinhua) -- A survey conducted by an information center affiliated to Beijing's commerce bureau revealed that retail sales jumped at more than 3,500 stores in the Chinese capital during the 3-day New Year holiday ending Monday, nearly reaching 2.5 billion yuan (about 378 million U.S. dollars), up 17.1 percent from the same period last year.The Beijing Commercial Information Consultation Center surveyed 3,568 stores in Beijing regarding their sales volumes during the past three days, finding that various holiday promotions had brought notable results, pushing up sales to over 2.49 billion yuan.The survey results also showed that consumers in Beijing were passionate about buying gold, since gold prices have kept rising during the past year. Consumers buy gold for investment purposes or to preserve their personal wealth amid the rising Consumer Price Index.Sales volumes at the Caishikou Department Store, which is famous for its gold products, surged 64.1 percent during this holiday from one year earlier.Besides gold, consumers also showed great interest in rabbit-figured toys and commodities with rabbit pictures on them, as 2011 is the year of rabbit in traditional Chinese culture.

LAS VEGAS, the United States, Jan. 7 (Xinhua) -- China is incredibly important to the success of the global consumer electronics industry, Gary Shapiro, president and CEO of the Consumer Electronics Association (CEA) told Xinhua in an interview."There is no doubt that China is a growing powerhouse. China is a global leader in manufacturing and the 'made in China' phrase is known around the world. Chinese manufacturing facilities provide jobs and spur growth not just in China, but around the world as more international companies explore doing business in China," Shapiro said during the 2011 International Consumer Electronics Show (CES), which was organized by CEA.The 2011 International CES kicked off here on Thursday with more than 2,700 exhibitors unveiling their latest technology innovations, up from the 2010 CES which featured 2,500 exhibitors. A total of 267 exhibitors from China, including major companies such as Haier and Hisense, will display their products at the show.According to CEA and market research company Gfk research, China is expected to contribute 13 percent of global CE retail revenue in 2010, up from 12 percent in 2009."The Chinese consumer technology market is also critical to the success of the International CES," Shapiro said. "China also ranked 3rd in terms of international attendance at the 2010 CES, with 1,105 Chinese industry professionals."However, while a leader in manufacturing, to become a true world leader China must produce innovative companies with brands that are recognized around the world, Shapiro cautioned."In fact, not one Chinese company is included on the Interbrand annual listing of the top 100 global brands. In order for China to truly compete on a global scale, it must change its outlook on the importance of branding."In recent years, many Chinese companies have come far in building their brands. Haier and Hisense are well-known around the globe. In fact, Hisense's Chairman Zhou Houjian delivered a keynote address at the 2010 CES, marking the first time a Chinese company has keynoted at the International CES."For Chinese companies looking to build their brand, there is no better forum to launch an innovative product than a tradeshow such as the International CES, which is the largest branding event in the world," Shapiro said.Shapiro was also optimistic with the prospect of the consumer electronics industry.After a down year in 2009, the consumer electronics industry grew 13 percent last year and is expected to grow an additional 10 percent this year to 964 billion dollars, thanks in large part to demand for smartphones and notebook computers, the CEA forecast. The group expects electronics sales to grow in all major markets around the world but to be especially strong in Western Europe, North America and China."Due to the economic downturn, consumers around the world have been cautious in their purchase patterns. However, CEA research finds that individuals view consumer electronics products as necessities rather than luxury goods, reinforcing the strength of our industry even in a down economy," he said.CEA is a U.S. trade association promoting growth in the consumer technology industry. It represents more than 2,000 corporate members involved in the design, development, manufacturing, distribution and integration of consumer electronics products. As a U.S.-based trade association, all CEA members must have offices in the United States, however CEA also has 40 associate member companies based in China.
BEIJING, Dec. 16 (Xinhua) -- Chinese Vice Premier Li Keqiang has urged more efforts to maintain steady and rapid economic growth and accelerate the transformation of the economic development pattern over the next five years.Li made the remarks Wednesday at a seminar on goals and policies of China's key 12th Five-year (2011-2015) Plan, according to a statement by the State Council, or China's Cabinet, on Thursday.At the seminar, the State Council solicited advice from senior officials of Tianjin Municipality, Jilin, Jiangsu, Henan, Yunnan and Gansu provinces, on the draft of the guidelines of the five-year plan.After listening to suggestions from provincial-level officials, Vice Premier Li said it is imperative for local governments to accelerate the transformation of the economic development pattern, while maintaining steady and rapid economic growth in the long term to benefit all Chinese people.As for the work next year, Li said local governments should more actively and prudently handle the relationship between keeping steady and rapid economic development, restructuring the economy and managing inflation expectations."More efforts should be provided to stabilize prices next year," he told the seminar.When planning goals and strategies for the development over the next five years, Li said, major indicators, such as the economic growth rates, should be defined "reasonably" and binding targets should be emphasized.Over the next five years, China will open wider to the outside world, expand its domestic consumption, push the reform of the income distribution system, create more jobs and improve its basic public service and social security system, he said.Li noted that local governments should work hard to allow residents' income growth to keep pace with the economic growth rate, and assure that laborers' wage hikes reflect productivity increases.
BEIJING, Nov. 8 (Xinhua) -- China has moved to speed up the building of a clean government ruled by law, part of the country's efforts to further enhance the government's credibility and maintain a harmonious social order for its rapid economic development.The Legislative Affairs Office of the State Council, or China' s cabinet, issued guidelines on Monday focusing on creating a government ruled by law, which requires officials and government staff to improve their ability in addressing "prominent problems" through legal means and invites the public to contribute to legislation.According to a statement issued along with the guidelines, the State Council said it was "important" and "imperative" to build a government ruled by law, as China now faces challenges, including imbalanced development of rural and urban areas, a widening income gap, an increased numbers of "social conflicts" , as well as corruption and injustice in law enforcement in some sectors.An official with the Legislative Affairs Office said Monday that the guidelines will further safeguard public interests and maintain social and economic order by requiring stepped-up efforts from authorities to investigate and punish cases that run counter to the country' s mandate for the safe production and issues related to food safety, the protection of natural resources and the environment, as well as public security.The guidelines, which requires officials and government staff to improve their ability in addressing "prominent problems" through legal means, also stipulates that if officials perform their duties according to the law or are skillful at solving disputes by legal means, they will more likely be promoted.However, government officials will be held liable for malfeasance or failure to fulfil their duty in major accidents or cases that have seriously violated laws.Further, the guidelines stress the importance of public participation in legislation, saying people's opinions, reasonable needs and legitimate interests should all be considered in lawmaking.Additionally, the guidelines state that the legislative process shall not be influenced to favor the interests of a certain sector or protect local interests.Also, to facilitate the creation of a clean and transparent government, the guidelines require all government information, aside from that involved in state, commercial or private secrets, to be open to the public.Government departments are also required to reply to pubic requests on the release of government information within a certain period of time and improve the ways of handling government affairs, according to the guidelines.
来源:资阳报