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BEIJING, Dec. 12 (Xinhuanet) -- For many multinational firms, the past 10 years in China have not only marked the rise of the world's second-largest economy but have also been a decade of expansion and profit growth.As they look back at this "golden decade", which is often used to describe the days after China entered the World Trade Organization (WTO) in 2001, their early expectations and ambitions in a more liberalized Chinese market were found to be more than fulfilled.When German auto giant BMW set foot on the Chinese mainland by establishing its first office in Beijing in 1994, its products were still far too luxurious for ordinary Chinese.In 2001, only 6,500 vehicles were sold under the BMW and Mini brands in China.NYK Diana, a container ship, anchors at Qingdao Port in East China's Shandong province on Thursday, as workers load cargo.But sales started to pick up with China's WTO entry, when the removal of trade barriers brought unprecedented economic growth and a booming market.In 2010, the vehicle maker, which started a joint venture with the domestic Brilliance China Automotive in 2003, sold 169,000 vehicles in China.That record is set to be broken this year as more than 170,000 cars were sold only in the first three quarters."We are both beneficiaries and firm supporters of the open market system," said Christoph Stark, president and CEO of BMW's Greater China region.By liberalizing its market, China, which celebrated the 10th anniversary of its WTO accession on Sunday, has become a thriving market and a savior for foreign enterprises hit hard by the global downturn.In 2009, when General Motors declared bankruptcy in the United States amid the global recession, its Chinese branch saw sales rise 66.9 percent year-on-year to more than 1.8 million units.In 2010, China overtook the United States to become GM's largest national market.The list of similar companies is extensive, as China's decade-long membership of the WTO has helped the Asian powerhouse attract 347,000 foreign firms with investment of more than 0 billion in the past 10 years.Chong Quan, deputy representative for China's international trade talks, said foreign enterprises made more than 0 billion in profit in the 10-year period, with an average annual increase of 30 percent."The accession to the WTO has made China a more transparent, safe and predictable market, as well as an essential part of the global economy," said Dominique Poulique, president of Alstom China.The French power engineering and train company, with more than 30 entities and about 10,000 employees in China, is one of the major foreign suppliers to the Chinese rail transport market."Rapid changes took place in China in the past decade, with its massive investment in infrastructure construction and notable development in energy," Poulique said.Wang Zhile, director of the research center of transnational cooperation under the Ministry of Commerce, said increasing shared interests between China and multinationals are putting them into an inseparable community, one that has found win-win solutions in the past decade.There is also high-quality labor at a relatively low cost, including white-collar workers, he added.Admittedly, the huge market and rich resources have powered up multinational firms in global competition, especially during and after the financial crisis.Forty-nine percent of the responding multinational companies had higher expectations for China in the wake of the global financial crisis in 2008 and 2009, according to a recent survey by the Economist Intelligence Unit, a business information arm of the Economist Group.Although showing signs of a slowdown, China's economy is still widely expected to grow by more than 8 percent next year, at a time when debt and financial instability are weakening growth in other leading economies.Poulique said he expected China's rapid growth to continue into the next decade, especially in the infrastructure construction market."For Alstom, the top task here is to keep adapting to the changing business environment," he said.Many foreign companies are moving research and development facilities to China in the hopes of making it a base for talent and technology.In Shanghai, 347 multinationals have set up regional headquarters, with the establishment of 333 foreign-funded research and development centers.
MANILA, Dec. 18 (Xinhua) -- No Chinese national has so far been found dead in the flashfloods triggered by tropical storm Washi ( local name Sendong), a Chinese embassy official said on Sunday.When asked on possible casualties of Chinese nationals, an offical with the Cebu Consulate said they just contacted with relevant persons in disaster affected areas, and there is no report on the casualties of Chinese citizens. The Consulate still tried its best to get further information from other sources.The Philippine Red Cross said Sunday that the death toll from the tropical storm Washi in the Philippines rose to 497, with 162 others still missing.
SAN FRANCISCO, Nov. 4 (Xinhua) -- Google is mulling a plan to offer paid cable-TV services to consumers, a move that could flare up a new wave of competition in the traditional TV business, U.S. media reported on Friday.According to The Wall Street Journal, the Internet search giant has considered adding video and phone services to a previously announced high-speed Internet service in two U.S. cities.People briefed on the plan told the newspaper that Google has discussed distributing major TV channels from companies like Walt Disney, Time Warner and Discovery Communications as part of the video service. The discussions were still exploratory and no final decisions have been made, said the report.Google said it does not comment on rumor or speculation.Whether it is a speculation or not, the reported plan reflects possible innovation and revolution for the traditional TV experience with the growth of high-speed Internet, which may become another lucrative battlefield all the technology giants will fight for.With the growth of home and mobile broadband services, more and more video contents become available for rental, purchase and streaming on desktop computers, tablet computers and smartphones.Competitions on the video streaming market have been increasingly fierce this year, among such services as Apple's iTunes, Amazon's Prime Video, NetFlix, Hulu Plus and Vudu, which is owned by Wal-Mart.Cable companies, facing a grim picture of being kicked out in the decades to come, also fought back with their own mobile apps and online streaming services.A new Steve Jobs biography revealed that the late Apple co- founder had been working on an Apple television."It would be seamlessly synced with all of your devices and with iCloud. It will have the simplest user interface you could imagine. I finally cracked it," Jobs told biographer Walter Isaacson in the book.Some analysts said the introduction of an Apple smart TV could bring a 100-billion-U.S.-dollar revenue opportunity for the Cupertino, California-based company.Last Friday, Google-owned YouTube announced a plan to launch 100 channels on its site with original professionally produced content. A new version of Google TV was also launched with new search tools that expand results from shows on cable to web-based services like NetFlix and Amazon.
BEIJING, Jan. 21 (Xinhua) -- The State Grid Corporation of China (SGCC), the country's largest electric power transmission and distribution company, said Saturday that the power supply will be sufficient during the upcoming Spring Festival holiday.Thermal power plants currently have 89.34 million tonnes of coal, which is enough for 20 days of power generation.Meanwhile, the country's electricity consumption is expected to fall by 40 percent during the holiday which lasts from Jan. 22 to Jan. 28, as many factories suspend production during the period, SGCC said.The company said it will keep a close eye on the cold weather, strengthen inspections and maintenance of high-voltage grids, and take precautions to minimize the impact of snow and freezing rain on power transmission.
HARBIN, Jan. 5 (Xinhua) -- A launching ceremony for the 2012 Sino-Russia Tourism Year was held in northeast China's Heilongjiang province Thursday.The initiative, along with an accompanying initiative to be launched in Russia in 2013, will boost people-to-people exchanges and consolidate Sino-Russian relations, Russian President Dmitry Medvedev said in a statement on Dec. 31, 2011.The initiative is the third of its kind to take place between China and Russia, following Sino-Russia National Year and the Sino-Russia Year of Language held in 2006 and 2009, respectively.The creation of the 2012 Sino-Russia Tourism Year is a vital decision made by leaders of both countries to boost the China-Russia comprehensive strategic partnership of cooperation, said Shao Qiwei, director of China's National Tourism Administration.The tourism year will serve as a platform to display the abundant tourism resources of the two countries, said Grigory Sarishvili, deputy head of the Russia Federal Tourism Agency.Statistics from Russian tourism authorities showed that the number of Chinese tourists to Russia during the first nine months in 2011 saw a year-on-year increase of 52 percent.