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BEIJING, Sept. 26 (Xinhua) -- Local governments should lay stress on economy restructuring and innovation to guarantee the long-term stable and relatively fast economic growth, said Li Keqiang, Chinese Vice Premier. Li made the remarks in his recent inspection and research trip to central China's Jiangxi Province from Sept. 24 to 26. Chinese Vice Premier Li Keqiang (L) talks with a farmer in Taihe County, east China's Jiangxi Province, Sept. 24, 2009. Li made a inspection and research tour to east China's Jiangxi Province from Sept. 24 to 26"The world economy is undergoing profound changes and transition. We should base ourselves on the current realities and be more forward-looking and broad-minded," He said. Li added that China should push forward the deepening of reforms and strategic economy restructuring while maintaining the relatively fast economic growth. China's economy expanded by 7.9 percent from a year ago in the second quarter this year, faster than the 6.1 percent in the first quarter, which was the worst quarterly growth in a decade, dampened by a slump in exports. Li urged provinces in the central region to give a full play to their growth potential and advantages, take on the development opportunities of strategic importance, improve the quality of economic growth and achieve remarkable economic progress through reforms, innovation and industrial upgrading. Central China provinces should endeavor to achieve remarkable economic advancement by 2015, according to a plan passed Wednesday by the State Council, the Cabinet. The central areas include Shanxi, Anhui, Jiangxi, Henan, Hubei and Hunan provinces. Chinese Vice Premier Li Keqiang (C) talks with revolutionary veterans, their descendants, and local work models in Jinggangshan City, east China's Jiangxi Province, Sept. 24, 2009
BEIJING, Aug. 11 (Xinhua) -- China's key July economic data adds to the optimism that the world's third largest economy is back on the track to recovery amid the global downturn, though challenges still persist. The July decline compared MORE POSITIVE CHANGES Both investment and consumption, two major engines that drive up China's growth, increased, according to statistics the National Bureau of Statistics (NBS) released Tuesday. Urban fixed-asset investment rose 32.9 percent year on year in the first seven months. Retail sales, the main measure of consumer spending, rose 15.2 percent in July, following a 15 percent growth in June. Graphics shows China's consumer price index from January of 2008 to January of 2009. The CPI was down 1.8 percent in July compared with the same month a year earlier, according to National Bureau of Statistics of China on Aug. 11, 2009Further signs of rebound in private spending supported a sustained growth recovery, Peng Wensheng, analyst at the Barclays Capital, said in an e-mailed statement to Xinhua. Although exports, another bedrock that fueled China's fast growth in the past few years, fell on a year-on-year basis last month, there were signs of improvement. China's foreign trade figures were better than they looked on the surface. July exports fell 23 percent from a year earlier, but increased 10.4 percent from June. Imports declined 14.9 percent year on year last month, but rose 8.7 percent month on month. According to the General Administration of Customs, the country's foreign trade has risen since March measured from month to month, and the trend of recovery had stabilized. Improvements in these data indicated China's economy was recovering and the government's policies to boost domestic demand and stabilize foreign trade had paid off, said Zhang Yansheng, a researcher with the National Development and Reform Commission (NDRC), the country's economic planner. Among other statistics released Tuesday, industrial output climbed 10.8 percent in July from a year earlier, quickening from 10.7 percent in June and 8.9 percent in May. Power generation, an important indicator measuring industrial activities, expanded 4.8 percent in July. Peng expected the country's economic growth to rise above 8 percent in the third quarter this year and 10 percent in the fourth quarter. POLICY STANCE UNCHANGED Despite these positive changes in China's economy, uncertainties still existed in world economic development and some domestic companies and industries faced difficulties, said Song Li, deputy chief of the Academy of Macroeconomic Research under the NDRC. As a result, the macro-economic policy orientation should remain unchanged, Song said. China's economy grew only 7.1 percent in the first half this year. This compared with double-digit annual growth during the 2003-2007 period and also the first two quarters last year. The government set an annual target of 8 percent for this year's economic growth, which was said essential for expanding employment. China unveiled a four-trillion-yuan (584.8 billion U.S. dollars) stimulus package and adopted proactive fiscal policy and moderately loose monetary policy to expand domestic demand, hoping increases in investment and consumption would make up for losses from ailing exports. To stimulate economy, lenders pumped 7.73 trillion yuan of new loans into the economy in the first seven months, the People's Bank of China, the central bank, said Tuesday. The surge in credit, however, sparked concerns over possible inflation and speculation about a shift in the country's monetary policy. Economists dispelled such concerns, saying consumer prices were still falling and the growth in new bank loans eased in July. The consumer price index (CPI), a main gauge of inflation, dipped 1.8 percent in July from a year earlier. The producer price index (PPI), which measures inflation at the wholesale level, fell 8.2 percent year on year last month. New lending in July cooled to 355.9 billion yuan, less than a quarter of the June total of more than 1.5 trillion yuan. Premier Wen Jiabao reaffirmed during the weekend that China would unwaveringly adhere to its proactive fiscal and moderate monetary policies in face of economic difficulties and challenges, like ailing exports and industrial overcapacity. Wen's stance echoed Zhu Zhixin, vice minister in charge of the NDRC, who underscored on Friday that there would be no change in China's macro-economic policy as the overseas market was still severe. He warned that any change in the macro-economic policy would disturb the recovery or rebound momentum, or even perish the previous efforts and achievements. "Efforts to keep a stable and fast economic development is the top priority of the country in the second half," he said.

PLOEN, Germany, Sept. 11 (Xinhua) -- The emissions cut target proposed by developed countries is "unfair" to developing countries, a Chinese expert said Friday. Pan Jiahua, executive director of the research centre for sustainable development of the Chinese Academy of Social Sciences, made the statement in an interview with Xinhua at the Global Economic Symposium (GES 2009) held in Ploen Castle, Schleswig-Holstein, Germany. Developed countries have proposed that the world should cut CO2emissions by 50 percent by 2050, with industrialized countries reducing their emissions by 80 percent. "An 80 percent emissions cut sounds good, when you first hear it. It shows a high profile by developed countries in dealing with climate change", said Pan. However, if developing countries accepted this target, there would be "nearly no space" left for further development in these countries. "At present, the annual per capita CO2 emission of developed countries is 15 tons. By 2050, if 80 percent were cut, the figure will be lowered to 3 tons," Pan said. "The current annual per capita CO2 emissions of developing countries does not reach 3 tons." "Developing countries have to cut emissions by at least 20 percent from the current level to 2.5 tons to reach the proposed target of a 50 percent decrease worldwide. That means, by 2050, the annual per capita CO2 emissions of developing countries will still be lower than developed countries." However, at present, most of developing countries were still undergoing industrialization and urbanization and more infrustructure construction was needed, which meant they had to increase CO2 emissions to keep their development at this stage, Pan said. Developed countries had already passed that period and they could keep regular development with a lower CO2 emission, Pan added. So they should take more responsibility in this respect, said Pan, noting that the proposal would seriously damage the development of developing countries. GES was first held in Ploen, Schleswig-Holstein, Germany in 2008. It aims to identify global challenges, examine their policy and business implications, and formulate concrete actions in response. GES 2009 attracted 351 politicians and experts from all over the world with its main topics including world financial regulation, climate change and global trade.
PLOEN, Germany, Sept. 11 (Xinhua) -- The emissions cut target proposed by developed countries is "unfair" to developing countries, a Chinese expert said Friday. Pan Jiahua, executive director of the research centre for sustainable development of the Chinese Academy of Social Sciences, made the statement in an interview with Xinhua at the Global Economic Symposium (GES 2009) held in Ploen Castle, Schleswig-Holstein, Germany. Developed countries have proposed that the world should cut CO2emissions by 50 percent by 2050, with industrialized countries reducing their emissions by 80 percent. "An 80 percent emissions cut sounds good, when you first hear it. It shows a high profile by developed countries in dealing with climate change", said Pan. However, if developing countries accepted this target, there would be "nearly no space" left for further development in these countries. "At present, the annual per capita CO2 emission of developed countries is 15 tons. By 2050, if 80 percent were cut, the figure will be lowered to 3 tons," Pan said. "The current annual per capita CO2 emissions of developing countries does not reach 3 tons." "Developing countries have to cut emissions by at least 20 percent from the current level to 2.5 tons to reach the proposed target of a 50 percent decrease worldwide. That means, by 2050, the annual per capita CO2 emissions of developing countries will still be lower than developed countries." However, at present, most of developing countries were still undergoing industrialization and urbanization and more infrustructure construction was needed, which meant they had to increase CO2 emissions to keep their development at this stage, Pan said. Developed countries had already passed that period and they could keep regular development with a lower CO2 emission, Pan added. So they should take more responsibility in this respect, said Pan, noting that the proposal would seriously damage the development of developing countries. GES was first held in Ploen, Schleswig-Holstein, Germany in 2008. It aims to identify global challenges, examine their policy and business implications, and formulate concrete actions in response. GES 2009 attracted 351 politicians and experts from all over the world with its main topics including world financial regulation, climate change and global trade.
CHANGCHUN, July 27 (Xinhua) -- Chinese Premier Wen Jiabao at the weekend reiterated that the government would stick to its proactive fiscal policy and moderately easy monetary policy for sustained growth. Wen made the remark during a visit in northeast China's Jilin Province, echoing a similar comment by President Hu Jintao at a conference with non-Party members on Thursday. "To achieve a stable and a steady growth remains the top priority of the country," said Wen. Chinese Premier Wen Jiabao (L, Front) talks with local citizens at a street in Jilin, a city in northeast China's Jilin Province, July 26, 2009. Wen made an inspection tour in Jilin Province from July 25 to 27. He urged the implementation and improvement of the government's plans to stimulate the economy, including the 4-trillion-yuan stimulus package announced in November last year. Boosted by a surge in investment driven by the stimulus, China's annual economic growth quickened to 7.9 percent in the second quarter, up from 6.1 percent in the first quarter and 6.8 percent in the fourth quarter of last year. Wen also stressed the need to accelerate economic restructuring and promote scientific innovation to encourage vitality in the economy. The premier said grain security was a primary task, after he talked to farmers and visited their homes in Renjia Village of Jiutai City in Jilin Province, which is one of the country's grain production bases.
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