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BEIJING, Jan. 21 (Xinhua) -- China's yuan-denominated individual home mortgage lending rose 1.4 trillion yuan (204.98 billion U.S. dollars) in 2009, up 47.9 percent from the previous year, said a report issued by the People's Bank of China, the central bank, on Wednesday.The growth rate was 37.4 percentage points higher than the previous year, said the report on China's investment flow in 2009.Meanwhile, the yuan-denominated property development lending gained 576.4 billion yuan in 2009, up 30.7 percent year on year, and the growth rate was 20.4 percentage points more than the previous year, the report said.The total mid-term and long-term loans in foreign and domestic currency expanded 7.1 trillion yuan in 2009, up 43.5 percent from the previous year, and the growth rate was 23.4 percentage points more than the previous year.The short-term loans in foreign and domestic currency expanded 2.3 trillion yuan, up 758.5 billion yuan from the same period last year.Industrial mid-term and long-term loans in foreign and domestic currency added 1 trillion yuan among China's major financial institutions, up 26 percent from the previous year.Infrastructure mid-term and long-term loans in foreign and domestic currency expanded 2.5 trillion yuan, up 43 percent from the same period last year, according to the report.The central bank said on Jan. 15 that China's new yuan-denominated lending in 2009 hit a record 9.59 trillion yuan (1.4 trillion U.S. dollars), almost double that of the previous year.
BEIJING, March 21 (Xinhua) -- Chinese leaders have urged police chiefs across the country to step up their efforts in capability building to do good work in solving social conflicts and safeguarding stability.In his written instruction to a training session for city-level public security bureau heads, Zhou Yongkang, Standing Committee member of the Political Bureau of the Communist Party of China Central Committee, told the police chiefs to strengthen their studies and exchanges, and continuously enhance their management capabilities to push forward the solving of social conflicts.Zhou also called for a harmonious relationship between the police and the people.State Councilor Meng Jianzhu, who is also minister of public security, said at the opening ceremony of the training course on Saturday that public security authorities should explore new measures to enhance their capability in safeguarding national security and social stability.About 470 police bureau chiefs attended the training session which will last for 10 days.

BEIJING, Feb. 11 (Xinhua) -- Senior Chinese leader Li Changchun visited the performers and crew of China Central Television's Lunar New Year gala program during their rehearsal Thursday. Li, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, extended new year greetings and expressed his hope that the crew will present an excellent show for all Chinese on Lunar New Year's Eve on Feb. 13. Li Changchun (front R), a member of the Standing Committee of the Political Bureau of the the Communist Party of China (CPC) Central Committee, shakes hands with actors at the rehearsal of the Spring Festival Gala Evening at China Central Television (CCTV) in Beijing, China, Feb. 11, 2010The annual Lunar New Year gala celebration started in the 1980s and is China's most popular TV event. It attracts a major proportion of China's 1.3 billion population every Lunar New Year Eve. Li Changchun (2nd row, C), a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, poses for photo with actors at the rehearsal of the Spring Festival Gala Evening at China Central Television (CCTV) in Beijing, China, Feb. 11, 2010.
HAIKOU, Jan. 22 (Xinhua) -- Government plans to make China's southern island province of Hainan an international tourist resort have cut the supply of housing as owners and developers hold out for huge profits.More than 200 property buyers had arrived everyday since the end of last year when the government unveiled plans to turn the tropical island into a top international destination by 2020, said Li Zhuo, a salesman with Rongyu Project in Haikou, the provincial capital.Prices were rising by about 1,000 yuan (164 U.S. dollars) per square meter each day on some properties and properties that had been selling for 15,000 yuan a square meter at the beginning of the year were now asking20,000 yuan, he said.The Shanhuwan real estate project in Haikou had sold 600 of its 643 apartments in two weeks despite prices jumping almost 50 percent, said salesgirl Min Xia.In the popular tourist destination of Sanya, the average price of Shanyuhu project had soared from 13,000 yuan a square meter in November, to 28,000 yuan as of Thursday, and was almost sold out.The tourism promotion blueprint, which was officially announced on Jan. 4 and is expected to be approved by the National Development and Reform Commission, drew real estate developers and investors from home and abroad, driving up the property market to fever and causing property bubble fears."Many home developers and owners suspended sales, expecting higher prices and profits," said Liu Haiyi, assistant general manager of Hainan Jintai Real Estate Development Co., Ltd.In an effort to clamp down on potential speculation, the provincial government on Jan. 15 suspended the leasing of land and approval of projects, which worsened speculation concerns.The suspension was aimed at cooling the overheated sector, but it may have led to a second wave of price hikes, said a property agent surnamed Wu."Sufficient housing and land resources could be provided to fulfill demands of the market and the tourism promotional campaign," Wei Liucheng, secretary of Hainan Provincial Committee of the Communist Party of China, said Tuesday."We will blacklist real estate developers who seriously disturb the property market order and not approve any new land for them," he said.Official statistics show 58,489 commercial homes, totaling almost 6 million square meters, were on the market in Hainan's major cities as of Monday.In the first half of 2009, Hainan had approved development of 3,164.7 hectares of land, including 1,522.65 hectares already under construction, according to the provincial administration of land, environment and resources.Wei said homes for local residents were a priority. The authorities should conduct comprehensive supervision campaigns and work out plans for land approval for residential purposes. Strict penalties should be meted out to those who violated land use and transfer regulations.Hainan is one of the five special economic zones. Agriculture and tourism are its pillar industries.
BEIJING, Jan. 13 (Xinhua) -- The decision of the People's Bank of China (PBOC), the central bank, to increase the deposit reserve requirement ratio has drawn worldwide attention and fluctuations in global markets. The PBOC decided on Tuesday to raise the deposit reserve requirement ratio by 0.5 percentage points as of Jan. 18, which analysts translated as a move to manage inflationary expectations and avoid a recurrence of the lending boom. This was the first time that the PBOC adjusted the ratio of deposit that lenders are required to set aside since the end of 2008 and the first increase for the ratio since June 2008. The PBOC cut the bank reserve requirement ratio four times in the second half of 2008 to stimulate growth as the global financial crisis started to weigh on the economy. The adjustment of the reserve requirement ratio, without changing benchmark interest rates, indicated the central bank was targeting inflationary expectations instead of inflation, said Zhao Qingming, a senior researcher at the China Construction Bank. Ma Jun, chief economist with Deutsche Bank (Great China), said that the rise in the reserve requirement ratio has ended the expansionary monetary policy and started a tightening cycle. Global markets took a hit after the Chinese attempt to cool the world's fastest-growing major economy. Chinese equities saw their sharpest dip in seven weeks on Wednesday after the central bank asked lenders to set aside more reserves as record bank lending last year ignited fears of inflation and asset bubbles. The benchmark Shanghai Composite Index went down 3.09 percent, or 101.31points, to close at 3,172.66 points. The Shenzhen Component Index lost 2.73 percent, or 364.69 points, to close at 13,016.56 points. Hong Kong stocks shed 578.04 points, or 2.59 percent, to close at 21,748.60 on Wednesday. The Hong Kong market was also dragged by overnight losses on the United States markets. The benchmark Hang Seng Index opened down 1.42 percent and widened its losses to 2.24 percent by lunch break, and further to 2.59 percent by market close. South Korea's financial markets on Tuesday reacted as the Chinese central bank raised the deposit reserve requirement ratio, with the stock markets and foreign exchange rate plunging from the last close. The benchmark Korea Composite Stock Price Index (KOSPI) and the Korean Securities Dealers Automated Quotations (KOSDAQ) jointly marked a plunge of 27.23 points and 3.65 points, respectively, from the last close. The report from China also affected the foreign exchange market, with the local currency also sliding against the U.S. dollar by 1.9 won. The New Zealand share market also fell on Wednesday after the Chinese move. The share market closed 0.43 percent lower with the benchmark NZSX-50 down 14.1 points at 3,276.2. Canadian stocks fell for the second day, weighed down by a metal and mining sector that was hit by the Chinese central bank's decision to cool economic growth. The S&P/TSX Composite Index declined 126.94 points, or 1.06 percent, to 11,820.18 on Tuesday. Earlier the index shed 173 points to 11, 774, the lowest level this year. U.S. stocks retreated Tuesday, with S&P falling for the first time in 2010, as disappointing Alcoa fourth-quarter results and rising U.S. trade deficit cooled optimism for a strong earnings season and a sustainable economic recovery. Crude tumbled the most in five weeks on concerns that demand from China, the world's second-largest oil consumer, will wane as the government moves to curb lending. Benchmark crude for February delivery fell 1.73 dollars to settle at 80.79 dollars a barrel on the New York Mercantile Exchange. It's the first time this year a barrel has closed below 81 dollars a barrel. Meanwhile, analysts widely hold that the Chinese central bank's decision is to cast only a short-term, instead of mid-term, stroke on the domestic stock market, as the impact would largely be psychological. Zhuang Jian, a senior economist with the Asian Development Bank, said the adjustment did not indicate a shift in the moderately easy monetary policy, but was an effort to control the pace of lending. Through the reserve requirement ratio increase, the central bank intended to call for balanced lending at commercial banks, which would support economic growth while avoiding higher inflationary expectations, Zhuang said.
来源:资阳报