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ANSHAN, Liaoning, June 16 (Xinhua) -- An official with the Ministry of Industry and Information Technology (MIIT) said Tuesday that the proposed alliance of Rio Tinto and BHP Billiton had a "strong monopolistic color" and Chinese firms would watch it closely and find ways to cope with it. Last year, China imported 440 million tonnes of iron ore, half of the world's total, so any slight market changes would affect Chinese steel makers. China's anti-monopoly law should apply in the proposed deal, said Chen Yanhai, head of the raw material department of MIIT at an industry meeting held in the northeastern city of Anshan, Liaoning Province. If the tie-up proved to be monopolistic, "we have to seek new policies and regulations to allow Chinese companies have a bigger say in iron ore pricing," said Chen without elaborating. Rio Tinto scrapped a proposed 19.5-billion-U.S.-dollar investment by Aluminum Corp. of China, or Chinalco, on June 5, and turned to rival BHP Billiton, which would pay Rio Tinto 5.8 billion U.S. dollars to set up a joint venture to run the iron ore resources of both companies in west Australia. On Monday, spokesman of the Ministry of Commerce Yao Jian said if the revenue of the joint venture reached "a certain amount," China's anti-monopoly law would apply. That law requires a company to get government approval before consolidation if its global revenue exceeds 10 billion yuan (1.47 billion U.S. dollars) and its revenue in China exceeds 2 billion yuan. An anti-monopoly review is also necessary if two or more parties in the company had more than 400 million yuan of revenue in China in the previous fiscal year. In the year ended 30 June, BHP Billiton's revenue in China was 11.7 billion U.S. dollars, while that for Rio Tinto was 10.8 billion U.S. dollars, according to the companies' websites. It was unclear what actions China would take if the case was determined to be covered by the Chinese anti-monopoly law. At the meeting Tuesday, Chen also said domestic steel makers should beef up technology and innovation to cut energy consumption and raise efficiency. Also, he said, China "should increase exploration of domestic mines to reduce reliance on imports."
BEIJING, May 5 (Xinhua) -- With the influenza A/H1N1 already spreading to more than 20 countries and regions, China is taking swift actions to keep the deadly virus at bay, while both the world health body and the country itself have defended the strict quarantine policies the government has adopted. Passengers of T98 train go through customs at Beijing West Railway Station in Beijing, capital of China, May 5, 2009. T98 train connecting Kowloon and Beijing arrived here Tuesday. This was the first arrival of a train from Hong Kong in Beijing since the first human influenza A/H1N1 case was confirmed in Hong Kong, south China, on May 1.CABINET DECISION The country will continue to impose strict medical examinations and follow-up checks on travelers from flu-affected countries and regions to prevent influenza A/H1N1, the State Council (cabinet) said here Tuesday. Vehicles and cargo from flu-affected countries and regions will be disinfected, it said in a statement after a meeting presided over by Premier Wen Jiabao. The central government will allot 5 billion yuan (725 million U.S. dollars) for flu prevention and control, it said. The government will also step up research of vaccines and medicines, including alternative treatments of traditional Chinese medicine, according to the statement. The mainland will cooperate with Hong Kong, Macao and Taiwan, and China will provide financial and technical support for countries and regions that need assistance, the statement said. The agriculture authorities would tighten monitoring of pig farms, slaughterhouses and livestock markets, it said. CANADIAN STUDENTS QUARANTINED China defended on Tuesday its quarantine of 25 Canadian students in Changchun, capital of northeastern Jilin Province, saying it was in accordance with law and the Canadians had assented to it. Mexicans board a chartered plane in Shanghai, east China, May 5, 2009. A Mexican chartered plane carried 43 quarantined Mexicans and 34 others back to Mexico Tuesday. Those on the plane included 43 crew members and passengers on board the AM098 and 34 others who worked and lived in China but were not under quarantine. The passengers were quarantined after one Mexican passenger was diagnosed with the influenza A/H1N1 on board flight AM098 from Mexico to Shanghai. Other six Mexican passengers volunteered to stay in the city and live under quarantineThe students began a seven-day quarantine period at a hotel on May 2 when they arrived, the same day that Canada confirmed 51 cases of A/H1N1 epidemic infection, said Foreign Ministry spokesman Ma Zhaoxu. Canada has recorded up to 140 cases of A/H1N1 flu by Tuesday, the third-highest figure following Mexico and the United States. Ma said the quarantine was in line with the Law on the Prevention and Treatment of Infectious Diseases and Frontier Health and Quarantine Law of China. The students were being well treated, and the authorities had made favorable arrangements for their residence, food and health care. None of the students showed any signs of illness and they were satisfied with the situation, said Ma. The local government had informed the Canadian embassy in China of the quarantine on May 3, and the two countries had been in close contact regarding the virus, he said. Ambulances carrying Mexican nationals head for the Pudong international airport in Shanghai, east China, May 5, 2009. A Mexican chartered plane carried 43 quarantined Mexicans and 34 others back to Mexico Tuesday. Those on the plane included 43 crew members and passengers on board the AM098 and 34 others who worked and lived in China but were not under quarantine. The passengers were quarantined after one Mexican passenger was diagnosed with the influenza A/H1N1 on board flight AM098 from Mexico to Shanghai. Other six Mexican passengers volunteered to stay in the city and live under quarantineCHARTERED FLIGHTS BETWEEN CHINA, MEXICO A total of 79 Chinese citizens left Mexico City early Tuesday aboard a chartered flight sent by the Chinese government. The plane took off from international airport Benito Juarez at about 3:05 a.m. local time (0805 GMT), heading towards Tijuana, northern city on the U.S.-Mexico border, to lift 20 more Chinese before returning to China. But due to bad weather, the had to land in Los Angeles, the flight operator said. The plane landed in Los Angeles at around 9p.m. (6 a.m. local time, 1300 GMT), China Southern Airlines said, adding it depends on the weather as to when the plane will leave for Tijuana. China sent the chartered flight after an agreement with Mexico, the epicenter of the A/H1N1 flu outbreak, to send chartered flights to each other's countries to bring back their stranded nationals. The aircraft Boeing 777-200 is expected to return to Shanghai at 10 a.m. Wednesday local time (0200 GMT), its operator Guangzhou-based China Southern Airlines said. China suspended direct flights from Mexico to Shanghai since Saturday after a 25-year-old Mexican man, who arrived in Shanghai Thursday aboard flight Aeromexico 098, was later diagnosed with A/H1N1 flu in Hong Kong. A medical staff member walks past ambulances carrying Mexican nationals in Shanghai, east China, May 5, 2009. A Mexican chartered plane carried 43 quarantined Mexicans and 34 others back to Mexico Tuesday. Those on the plane included 43 crew members and passengers on board the AM098 and 34 others who worked and lived in China but were not under quarantine. The passengers were quarantined after one Mexican passenger was diagnosed with the influenza A/H1N1 on board flight AM098 from Mexico to Shanghai. Other six Mexican passengers volunteered to stay in the city and live under quarantineAlso on Tuesday, a Mexican chartered plane arrived at the Shanghai Pudong International Airport on Tuesday to pick up the quarantined Mexicans who had been on the same flight with the victim. Andres Pena, vice consul-general of Mexico in Shanghai, said those who got on the plane included 43 crew and passengers on board the AM098 and 34 others, who worked and lived in China but were not under quarantine. WHO DEFENDING QUARANTINE The Mexican government on Monday complained China's decision to quarantine the Mexican nationals in China. However, World Health Organization (WHO) flu chief Keiji Fukudasaid quarantines were a "long-established principle" that make sense in the early phases of an outbreak. "There are other countries that are taking similar actions like China, so I don't think China is standing out in this respect," said Dr. Hans Troedsson, WHO representative in China. Wen Li, a Chinese citizen, who is under quarantine in Beijing, said she was called by disease control staff at midnight on Saturday to be placed under quarantine because she was a passenger on the AM098 flight. "I think the quarantine is necessary and responsible for everybody, regardless of nationality," said the woman, adding that her quarantine is expected to end Wednesday evening or Thursday. MASKS IN STRONG DEMAND The ongoing worldwide A/H1N1 flu scare has led to strong demand for masks at the ongoing 105th China Import and Export Fair, also Canton Fair. "Customers came to our booth, putting their hands on mouth to signal that they want to buy masks. There are so many customers that we are running out of stock," said Li Yan, saleswoman of Conghua Puyuan Health Articles Factory in southern China's Guangdong Province, Tuesday. Business people from across the world gathered at booths selling medicine and health material at the fair. It was even more crowded at booths selling masks and thermometers. Fuzelong, a Guangzhou-based medical material company, said they have won orders for 3 million masks over the past three days, compared with no more than 500,000 masks during previous fairs. The traditional Chinese medicine, which doctors say will help protect people from flu virus, also drew attention. Qi Haidong, manager of a Guangzhou-based pharmaceutical company, said the Chinese herbal medicine for treating colds Radix Isatidis sold well. MAN NABBED FOR SELLING FAKE DRUG There are other people who want to cash in on people's fear over the killer flu. Chinese border police Tuesday arrested a man for selling fake influenza A/H1N1 medicine to foreign ship crews in Shanghai. The man, a rural migrant worker from central China's Hunan Province was found to have sold so called "miracle" medicine to foreign crews at the Shanghai port. If any foreign crew members showed flu symptoms, they should see doctors rather than believe some so-called "miracle" medicine, police said

BEIJING, May 23 (Xinhua) -- China unveiled Saturday credit rating standards for the sovereignty entity of a central government, the first sovereign credit rating standards in China, aiming broader participation in global credit rating. The standards were announced by Dagong Global Credit Rating Co., Ltd, one of the first domestic rating agencies in China. The sovereign credit rating standards would be able to evaluate the willingness and ability of a central government to repay its commercial financial debts as stipulated in contracts, said the company. The rating results could reflect the relative possibility of a central government to default as a debtor, and the rating is based on the country's overall credit value, according to Dagong. Elements of credit risks will include the country's political environment, economic power, fiscal status, foreign debt and liquidity, said the company, adding that it judges the credit of a sovereign entity on the basis of a comprehensive evaluation of its fiscal strength and foreign reserves. Compared with other rating agencies, Dagong pays more attention to the different economic stage of each country, and examines the features of its credit risks in a holistic and systematic view, according to Dagong. Jiang Yong, director of the Center for Economic Security Studies under the China Institutes of Contemporary International Relations, said the financial crisis exposed a risk of the international society relying solely on the credit rating institutions of a single country, which is the largest risk of the world economy. Luo Ping, head of the training center under China Banking Regulatory Commission, said the launch of the sovereign credit rating standards would help improve the transparency of credit rating information, and would strengthen China's position in the international financial arena.
BEIJING, June 16 (Xinhua) -- China's political advisors were urged to brainstorm on economic development and offer suggestions as the nation copes with the impact of the global downturn. Jia Qinglin, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), a political advisory body, made the call as the standing committee of the 11thCPPCC National Committee kicked off its sixth meeting Tuesday. Jia said maintaining steady, relatively fast economic development and safeguarding social stability and harmony were the foremost tasks facing the government. He called on the participants to focus their four-day discussions on these themes and make valuable suggestions. The sixth meeting of the Standing Committee of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC) opens in Beijing, capital of China, on March 16, 2009. Vice Premier Li Keqiang briefed the meeting on the economic situation and China's economic and social development. He said with the central authority's decisive coping policies and the concerted efforts nationwide, China's economy was turning for the better. He nevertheless warned of a "complicated and zigzag" recovery process and difficulties ahead, citing the unpredictable world economy. Li also called for full implementation of the central authority's deployment in the next step of the economic work, and laid out directions including boosting domestic demand, accelerating industrial restructuring, developing new energy sources, furthering reform and opening up and raising living standards.
BEIJING, April 28 (Xinhua) -- China and Peru on Tuesday signed a free trade agreement (FTA) in Beijing, capping over-a-year-long negotiations and legal processes. Chinese Vice President Xi Jinping and his Peruvian counterpart Luis Giampietri Rojas witnessed the signing ceremony in Beijing, with both hailing the deal "a new landmark" in bilateral ties. "China-Peru agreement is the first FTA package China has signed with a Latin American country," said the Chinese Commerce Ministry. Chinese Vice President Xi Jinping (R) meets with Peruvian First Vice President Luis Giampietri Rojas at the Great Hall of the People in Beijing, capital of China, April 28, 2009. After 14 months of negotiations, China and Peru concluded their free trade talks in November 2008, followed by some legal processes in both countries. "With the global financial crisis looming, the China-Peru deals ends a positive message of deepening cooperation and tiding over difficulties," said Zhu Hong, deputy director general of the International Department of the Chinese Commerce Ministry. The pact is China's second in Latin America, following an accord with Chile in 2005. "The China-Peru FTA is a comprehensive deal, covering goods, service, investment and other fields while the accord with Chile deals with goods only," Zhu said. A complementary deal on service trade was signed with Chile in 2008. "The pact features a high degree of openness," Zhu said, citing phased, free tariffs on more than 90 percent of goods ranging from China's electronic products and machinery to Peru's fish powder and minerals. Under the deal, both pledged to further open their service sectors and offer national treatment to investors from the other country. China and Peru also reached agreement on intellectual property, trade rescue, customs procedures and other fields. The official said the pact would play an important role in helping both nations deal with global financial foes and boosting their own economies. Trade between the two countries reached 7.5 billion U.S. dollars in 2008, according to Chinese customs authority. The FTA deal is likely to come into force in early 2010, Zhu said. Since the beginning of the decade, Beijing has vigorously pursued free trade agreements. So far, China has signed FTA deals with the Association of Southeast Asian Nations (ASEAN), Chile, Pakistan, New Zealand, Singapore and Peru. China is also in free trade talks with Australia, the Gulf Cooperation Council, Iceland, Norway and Costa Rica, among others.
来源:资阳报