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BEIJING, Aug. 30 (Xinhua) -- China is ready to advance cooperation with Turkey in combating terrorism to better fulfill the common task of safeguarding national unification and territorial integrity and opposing separatism, Foreign Minister Yang Jiechi said here Sunday. Yang made the remarks when meeting in Beijing with Turkish State Minister Zafer Caglayan, who paid the visit to China as special envoy of Turkish Prime Minister Recep Tayyip Erdogan. The visit "indicated Turkey's political will to further its relationship with China," Yang said during the one-hour meeting, adding China attached great importance to promoting the ties with Turkey. China was ready to strengthen the bilateral relations on the basis of universally recognized norms of international relations, he said. Chinese Foreign Minister Yang Jiechi (R) meets with visiting Turkish State Minister Zafer Caglayan who paid the visit to China as special envoy of Turkish Prime Minister Recep Tayyip Erdogan, in Beijing, capital of China, Aug. 30, 2009 Yang said China always held that safeguarding the overall development of the bilateral relations could serve the fundamental interests of the two peoples. Both China and Turkey were faced with common tasks of protecting national unification and territorial integrity. The two countries enjoyed long-standing coordination in security fields including anti-terrorism, Yang said. China would work with Turkey to boost the cooperation in this regard, so as to better carry out the common task of safeguarding national unification and territorial integrity and opposing separatism, he said. Yang also said that the July 5 riot in Urumqi was neither an ethnic problem nor a religious issue, but an incident plotted and organized by the "East Turkestan" separatist forces both inside and outside China. It had a profound political background. The riot, taking place on July 5 in capital of the northwest China's Xinjiang Uygur Autonomous Region, left 197 people dead and more than 1,600 others injured. Yang said the "East Turkestan" separatist forces' nature and harm was disclosed in the riot as it seriously jeopardized the lives, property of the Chinese people of various ethnic groups, and the local stability. The measures taken by the Chinese government to deal with the incident according to law won wholehearted support of the local people of all ethnic groups, Yang said. Caglayan reiterated Turkey's adherence to the one-China policy and its respect for China's sovereignty and territorial integrity. The two peoples had a long history of friendship, and the two countries enjoyed "sound cooperation" in areas such as fighting terrorism, Caglayan said, adding Turkey would like to keep close contact with China in this area. "Turkey will endeavor to develop a strong relationship with China, through deepening bilateral cooperation," he said. Caglayan, who arrived in Beijing Saturday, also said the success of Turkish President Abdullah Gul's visit to China in June had exerted profound influence on the bilateral relations. During his four-day stay in China, Caglayan was also scheduled to meet Chinese Premier Wen Jiabao and visit Xinjiang, according to Chinese Foreign Ministry.
BEIJING, Sept. 27 (Xinhua) -- Chairman Ning Gaoning of China National Cereals, Oils & Foodstuffs Corporation (COFCO), said Sunday the corporation's total investment in the northwestern Xinjiang Uygur Autonomous Region would reach 10 billion yuan (1.46 billion U.S. dollars) over the next five years. Ning made the remarks during his visit to the Xinjiang-based subsidiary companies of the corporation, the country's largest oil and food producer. Currently, COFCO's accumulative investment in the region is about 5 billion yuan, focused on tomato processing, sugar manufacturing, and beverages. Ning said the corporation would double investment over the next five years due to confidence in the region's growth potential, but did not say for which the future investment would be targeted. In 2005, COFCO made an investment in Xinjiang's Tunhe Investment Co., Ltd. by taking over a 37.2 percent share of Tunhe. So far COFCO Tunhe has become the largest tomato ketchup producer in Asia, and the second largest in the world.

BEIJING, Aug. 31 (Xinhua) -- The Chinese Ministry of Commerce said Monday it would extend anti-dumping duties on phthalic anhydride imported from the Republic of Korea, Japan and India for another five years after review investigation. Phthalic anhydride is an important industrial chemical mainly used in the mass production of plasticizers for plastics The imported phthalic anhydride would cause damage to Chinese industries should anti-dumping duties be lifted, said the ministry. The duties took effect Monday. On Jan. 7, China imposed anti-dumping measures on phthalic anhydride to offset negative impact on domestic producers.
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.
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.
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