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HONG KONG, Aug. 29 (Xinhua) -- China has made great progress in gender equality and empowering women in the past 60 years, well on track to achieve the Millennium Development Goals (MDGs) by 2015, said a senior UN official on Saturday at the Asia Pacific Women Forum held in Hong Kong. Khalid Malik, the United Nations Resident Coordinator and the UN Development Program resident representative in China, quoted Chairman Mao Zedong's famous remarks "Women holding up half of the sky" to review China's good will and determination in promoting gender equality. He noted that the People's Republic of China has witnessed important progress since its founding nearly 60 years ago, with gender equality as the country's basic national policy and one of the core elements to pursue a harmonious society. Six years away from the deadline of MDGs, China is now well on track for further progress to meet the goal in promoting gender equality, said Malik. "There is almost no gender disparity to Chinese women's access to a living market, and there is much that the Asia-Pacific region can learn from China's lessons," he said. The eight MDGs, set by world leaders at a UN summit meeting in 2000, also include relieving poverty, popularizing primary education, reducing child mortality and ensuring environmental sustainability. As the Asia-Pacific region emerges stronger than any other one from the undergoing global financial crisis, he also believed the women in the region have a real prospect in redefining and strengthening their role in economy and society amid "a time of great changes". "Women are the driving force to overcome poverty and hunger, fight illiteracy, prevent the spread of diseases and promote stability," he said. More efforts were needed yet, Malik added. He urged both China and the whole region to eliminate even more bias towards empowering women and to bring the gender equality to a whole new level on the foundation of all the progress that has been made so far.
BEIJING, Sept. 19 (Xinhua) -- Top Chinese leaders including President Hu Jintao on Saturday visited an exhibition showcasing the achievements New China has made in the past six decades. Former President Jiang Zemin, top legislator Wu Bangguo, Premier Wen Jiabao, top political advisor Jia Qinglin, and other senior leaders including Li Changchun, Xi Jinping, Li Keqiang, He Guoqiang and Zhou Yongkang also visited the show. Chinese Former President Jiang Zemin (R, front) visits an exhibition showcasing the achievements New China has made in the past six decades in Beijing, China, Sept. 19, 2009. The leaders said they were excited to see the achievements New China has made since its founding, after the adoption of the reform and opening-up policy in particular, which were displayed through various means including pictures and video clips. They agreed the exhibition vividly showed the historical process of the Communist Party of China (CPC) uniting and leading people of all ethnic groups across the country to blaze and develop the path of socialism with Chinese characteristics. Hu said after the visit that China was still a developing country and the road ahead was still full of difficulties both foreseeable and unforeseeable. He called on the people across the country to work with one heart and make unremitting endeavor for the rejuvenation of the Chinese nation. The exhibition, covering progresses in economic, political, cultural, social and Party constructions, will run till Oct. 20. Wu Bangguo (2nd R), chairman of the Standing Committee of China's National People's Congress, visits an exhibition showcasing the achievements New China has made in the past six decades in Beijing, China, Sept. 19, 2009

BEIJING, June 29 -- Chinese listed banks, which have lent record high amounts in the first half, are likely to report lower profit growth in the period due to narrowing interest spreads and higher provisioning requirements, industry analysts said. "We are expecting a 7 to 8 percent year-on-year profit fall among the 14 listed banks in the first half-year," said Wang Liwen, banking analyst with Shanghai-based Guotai Junan Securities Co, citing stretched interest spreads as the major reason. In 2008, the net interest rate spread for banks ranged from 2.45 percentage points to 3.62 percentage points, with the average figure hovering around 3 percentage points. This year, as the government cut interest rates several times to spur economic growth amid the global financial crisis, the net interest rate spread is expected to be lower, at around 2.36 percentage points. Clients walk into the Suzhou branch of Bank of Ningbo in Suzhou, east China's Jiangsu Province, March 27, 2009.The bank, the first listed lender to file a mid-term report, said its first-half profits would drop nearly 5 percent from a year earlier "A drop of 0.7 percentage points in the average net interest rate spread could mean some 7-billion-yuan decrease in the interest yield for each trillion yuan of new loans," said Wang. Chinese banks extended a record 7.37 trillion yuan of new loans in the first half, triple the amount offered in the same period a year earlier and 47 percent more than the government's full-year target, after lending restrictions were eased in November to stem an economic slowdown. However, most securities firms' reports said the country's 14 listed banks might post an average profit decrease ranging from 6 percent to 10 percent year-on-year in the first six months. According to Wind Info, a financial data provider, the 14 listed banks reported a net profit of 232.7 billion yuan in the first half of 2008, an increase of 73 percent year-on-year. But this year, the net profit could probably stand at 210 billion yuan, down 10 percent on a yearly basis. Bank of Ningbo, for instance, on July 14 announced no more than a 5-percent decease in net profit in its pre-released semi-annual report to the Shenzhen bourse. It is the first Chinese listed bank to report a profit fall in the first half. Wang Yifeng, an analyst at TX Investment Consulting, said the improved provision coverage ratio requirement might also cripple profits at listed banks. To prevent potential risks arising from the lending spree, China Banking Regulatory Commission raised the minimum provision coverage ratio requirement to 150 percent from 130 percent earlier this year. "The increase will mainly eat into the profits of several large State-controlled banks as they are still not up to the new requirements," said Wang. But as the squeezed spreads bottom out in the second half, most analysts said listed banks would still post positive growth for the whole year. "Thanks to the widened interest rate spreads and lower loan cost in the following months, we are expecting a 10-percent growth in profits overall this year," said Liu Yinghua, an analyst with Shenzhen-based Ping An Securities.
BEIJING, Sept. 17 (Xinhua) -- The first seven companies applying for listing on the Growth Enterprise Market (GEM), a Nasdaq-alike market in China, have got green lights from the country's securities regulator on Thursday. They are in the fields of software, medical equipment and medicines. They planned to raise 2.27 billion yuan (332.65 million U.S. dollars), from the IPOs, according to China Securities Regulatory Commission (CSRC). "This means the seven enterprises are eligible to list on the market, but they still have some flaws in information issuance, which need to be improved," said Jiang Xinhong, a member of the review commission. The flaws don't hinder the listings, but these enterprises should go through some necessary procedures before getting listed, said the CSRC. The CSRC had received 155 applications for IPOs on the GEM as of Sept. 10, since it started to accept applications of the GEM on July 26.
SINGAPORE, Aug. 24 (Xinhua) -- The 6th China-Singapore Joint Council Meeting for Bilateral Cooperation, co-chaired by visiting Chinese Vice Premier Wang Qishan and Singapore's Deputy Prime Minister Wong Kan Seng, was held here on Monday. During the meeting, Wang Qishan spoke highly of the China-Singapore relations. He said that both countries have maintained frequent interflow of high-level visits, cooperations between the two countries have advanced in all-round way with good results. Against the backdrop of the international financial crisis, it is of great significance that China and Singapore actively explore new ways and areas of cooperation. Chinese Vice Premier Wang Qishan (L) meets with Singapore's Prime Minister Lee Hsien Loong in Singapore, on Aug. 24, 2009. At the invitation of Singapore's Deputy Prime Minister Wong Kan Seng, Wang Qishan arrived here on Sunday to start a four-day official visit to the city state Singapore's Deputy Prime Minister Wong Kan Seng said that the bilateral ties have developed rapidly based on mutual trust, friendship and cooperation. He said that Singapore is confident in the future of China, and is willing to work more closely together to enhance bilateral relations. Chinese Vice Premier Wang Qishan (2nd R) meets with Singapore's Prime Minister Lee Hsien Loong (4th L) in Singapore, on Aug. 24, 2009Earlier Monday, Wang Qishan and Wong Kan Seng also co-chaired the 11th China-Singapore Joint Steering Council Meeting for the Suzhou Industrial Park and the 2nd China-Singapore Joint Steering Council Meeting for the Tianjin Eco-City. They also witnessed the signing of Memorandums of Understanding (MOUs) related to educational cooperation and science and technology, and a Protocol to the tax treaty between the two countries. At the invitation of Singapore's Deputy Prime Minister Wong Kan Seng, Chinese Vice Premier Wang Qishan arrived here on Sunday to start a four-day official visit to the city state.
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