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BEIJING, Nov. 28 (Xinhua) -- Chinese President Hu Jintao said Friday the top priority of the country's 2009 agenda on economic development is to maintain a "stable and relatively fast growth", amid the grim global economic downturn. "We will ensure a quality and fast growth of the national economy next year," Hu said while sitting down with personages outside the ruling Communist Party of China (CPC) to seek their advice on the country's economic development. He said the country would pursue an "all-rounded and sustainable" growth that stresses both quality and efficiency. The world's fastest growing economy saw its growth slow sharply to nine percent year on year in the third quarter, the slowest pace in five years, as a result of slower export and investment growth. The president said the country would continue to practice "active" fiscal and "moderately loose" monetary policies next year, and would in the meantime strengthen and improve macro controls according to changing conditions. Such proactive policies is a transition made earlier this month against adverse global economic conditions from the earlier "prudent" fiscal and "tight" monetary policies aimed at curbing inflation and averting overheating. He stressed the importance of boosting domestic demands, saying the country would bring consumption to play a bigger role in driving the economic growth, and the expansion of consumer spending would receive more prominent emphasis. China would also increase its investment in rural areas, agriculture, and farmers "by a large extent" to guarantee the development of the agricultural sector and ensure the output of grain and other farm produce, according to the president. Hu said the country would continue to promote economic restructuring. China has been working to reduce its heavy reliance on exports and investment over the past years. "The country needs to take the challenges of the ongoing global financial crisis as opportunities to accelerate industrial restructuring to create new growth and foster other competitive edges," he said. China would continue with its reform and opening up, Hu said. "The country will lose no chance to introduce reforms that can promote the development at the right time, and will take note of bringing the market into full play in allocating resources." The country would actively develop the export-oriented sector and step up the diversification of exporting markets, Hu added. He also said the country would stick to improving people's living conditions and building a stable society. The country would adopt "more active" employment polices next year, Hu said. He pledged to improve urban and rural social security systems and vowed intensified efforts in supervision and inspection of food, drug and work safety. "The country has great potential in economic development and has also accumulated strong capabilities to withstand risks over the past 30 years of reform and opening up," Hu told the non-Communist people. The non-CPC personages said they endorsed the CPC and government's judgment on current situation as well as plans on next year's economic development. They also offered suggestions on economic issues such as the fight against the financial turmoil, and macro control measures.
BEIJING, Nov. 21 (Xinhua) -- The Communist Party of China's (CPC) top anti-corruption official on Friday urged tighter supervision and inspection to ensure the implementation of the central government's economic policies. He Guoqiang, secretary of the CPC Central Commission for Discipline Inspection (CCDI), made these comments at a conference held before inspection groups headed for local governments. The central government has announced steps to spur domestic demand and boost economic development in the face of the global economic slowdown. A supervision work leading group, composed of the CCDI, the Ministry of Supervision, the National Development and Reform Commission, the Ministry of Finance and the National Audit Office, has been set up to supervise the projects invested in by the central government and the implementation of economic policies. Twenty-four groups will go to 31 provinces, municipalities and autonomous regions to carry out inspections. He asked inspectors to examine project plans, as well as approval and construction procedures, to ensure they were in compliance with laws and regulations. Supervision over the management and use of money, as well as project quality, should be tightened, He said. He, who is also a member of the Standing Committee of the CPC Central Committee Political Bureau, added that officials found taking bribes or embezzling funds should be severely punished.
BEIJING, Dec. 6 (Xinhua) -- China on Saturday gave further explanation on the proposed reform of fuel tax and pricing in a bid to dispel misunderstanding that a higher consumption tax will mean higher pump prices. The authorities on Friday released a draft reform plan to solicit public opinions till Dec. 12. It had been long advocated by experts as key for energy saving and economic structure transform. The plan, scheduled to take effect on Jan. 1, will abolish six fees now charged for road or waterway maintenance and management. But drivers will pay higher fuel consumption taxes. Gasoline taxes will be raised from 0.2 yuan (about 3 U.S. cents) per liter to 1 yuan and diesel taxes from 0.1 yuan per liter to 0.8 yuan. The government reiterated its Friday's statement that the pump prices, which include the higher tax, won't be raised and the reform won't increase costs for fuel consumers. The tax is reflected in the pump prices and isn't an additional increase to the retail prices, said a joint statement by the National Development and Reform Commission (NDRC), Ministry of Finance, Ministry of Transport and State Administration of Taxation. The proposed tax is lower than the level in the European Union and also in the neighboring countries and regions, it said. The draft said China's domestic crude oil prices should be set directly in line with world prices, but the link should be controlled and indirect for refined petroleum prices. There will be a ceiling on pump prices as part of the plan. The government said it will continue to properly regulate domestic pump prices to prevent the negative impacts of huge fluctuations in the international oil prices on the domestic market. The reform helps to promote a healthy development of the oil sector and energy saving, and to ensure domestic fuel supply and a stable economic growth, said the statement. But it said the government will increase subsidies to farmers, taxi drivers, and sectors of fishing, forestry, and public transport. The reform will be a significant step towards liberalizing retail fuel prices, said researcher Zhou Dadi from the Energy Research Institute of the NDRC. China has been pushing for fuel tax reform for many years, and the idea of a fuel tax was raised as early as 1994. Both officials and economists said the plunge in global oil price presents a window of opportunity for this reform. The world crude oil price has plunged almost 70 percent from a peak of 147 U.S. dollars per barrel in mid-July. Even with oil prices tumbling so much, Chinese drivers are paying much more than those in many other countries because domestic fuel prices have been unchanged since June. Government-set prices are changed only infrequently. The pump prices are higher than the levels in the United States, but lower than that in some European and Asian nations, said the statement. But it noted this is because of oil resource shortages in the European and Asian countries and their intention to use higher prices to encourage energy saving.
CHENGDU, Oct. 26 (Xinhua) -- Chinese Vice Premier Li Keqiang met on Sunday with leaders of Slovenia, Laos and Sri Lanka who are here to attend the Ninth Western China International Economy and Trade Fair, also known as West China Expo. Li said he welcomed the three countries' leaders to attend the expo that will open on Monday in Chengdu, capital of southwestern Sichuan Province. Chinese Vice Premier Li Keqiang (R) meets with Slovenian President Danilo Turk in Chengdu, capital of southwest China's Sichuan Province, Oct. 26, 2008. Danilo Turk was here to attend the opening ceremony of the 9th Western China International Economy and Trade Fair, scheduled to be held on Oct. 27.He also thanked the governments and people of the three countries for their aid to China after the May 12 Wenchuan earthquake and their support for the Beijing Olympic Games. When meeting Slovenian President Danilo Turk, Li said China would continue to promote the opening-up and development of the western area. Slovenia is welcome to make use of its own advantages and expand cooperation with China's vast western area, he added. Chinese Vice Premier Li Keqiang (R) meets with Lao Prime Minister Bouasone Bouphavanh in Chengdu, capital of southwest China's Sichuan Province, Oct. 26, 2008. Bouasone Bouphavanh was here to attend the opening ceremony of the 9th Western China International Economy and Trade Fair, scheduled to be held on Oct. 27.The West China Expo is an important platform for China to enhance international economic and trade cooperation, Li said when talking with Lao Prime Minister Bouasone Bouphavanh. It is hoped that the expo would promote the trade between China and Laos, Li said. Chinese Vice Premier Li Keqiang (R) meets with Sri Lankan Prime Minister Ratnasiri Wickremanayake in Chengdu, capital of southwest China's Sichuan Province, Oct. 26, 2008. Ratnasiri Wickremanayake was here to attend the opening ceremony of the 9th Western China International Economy and Trade Fair, scheduled to be held on Oct. 27The premier said he hoped the two sides could deepen the cooperation in such fields as trade, investment and infrastructure when he met with Sri Lankan Prime Minister Ratnasiri Wickremanayake. The three foreign leaders all said they would like to further promote relations with China.