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BEIJING, March 24 (Xinhua) -- Chinese commercial banks will be allowed to trade gold futures in the domestic market, according to a notice released on the regulator's official website here on Monday. China gold futures trading was launched in January, but domestic banks were barred from trading by the China Banking Regulatory Commission. According to the notice, domestic banks that meet certain requirements, such as having capital adequacy ratio of more than 8percent, can apply for a trading permit. "That's great news for the gold futures market, which is not operating that well," said Hu Yuyue, an expert with Beijing Technology and Business University. "Commercial banks can provide more liquidity and stability to the market, after all, they hold huge capital," said Hu. "Gold futures trading can also help domestic banks to improve competitiveness against overseas banks as financial derivatives are supposed to be the largest revenue sources for leading banks," he said. Non-interest income usually accounts for at least 50 percent of bank revenues in developed countries and the proportion can reach 80 percent for some banks. However, Chinese banks depend heavily on the margins between deposits and loans.
RUGAO - Zhou Fenying is a living witness to the dark history that still poisons China's relations with Japan more than 60 years after World War Two. When Zhou was 22, Japanese soldiers came to her village in eastern China, grabbed her and her sister-in-law and carted them off to a military brothel, she says. Now 91, Zhou has broken decades of silence to speak of her traumatic experience as a "comfort woman" -- the euphemism the invading Japanese used to describe women forced into sex slavery. "I hid with my husband's sister under a millstone. Later, the Japanese soldiers discovered us and pulled us out by our legs. They tied us both to their vehicle. Later they used more ropes to tie and secure us and drove us away," she told Reuters in her home village in Jiangsu province. "They then took us to the 'comfort woman lodge'. There was nothing good there," she said, speaking through a local government official who struggled to translate her thick dialect into Mandarin. "For four to five hours a day, it was torture. They gave us food afterwards, but every day we cried and we just did not want to eat it," Zhou added, sitting in her sparsely decorated home. The Chinese government says Japan has yet to atone properly for its war crimes, which it says included massacres and forcing people to work as virtual slaves in factories or as prostitutes. In 2005, a push by Japan for a permanent U.N. Security Council seat sparked sometimes violent anti-Japanese street protests in cities across China, with demonstrators denouncing Tokyo and demanding compensation and an apology for the war. "OF COURSE I HATE THEM" Zhou -- neatly dressed in a dark blue traditional Chinese shirt, her greying hair combed back into a bun -- avoided saying what had happened to her in the brothel, except that she was there with at least 20 other Chinese women. But her son, Jiang Weixun, 62, said she had told him they were repeatedly raped by Japanese soldiers on a daily basis. This harrowing experience has left a deep scar on Zhou's life. She cannot forget, and nor can she forgive. "If it were you, wouldn't you hate them? Of course I hate them. But after the war, all the Japanese went home. I'm already so old. I think they are all dead by now," Zhou said. Zhou said she had served as a "comfort woman" for two months before a local town official rescued her by paying off the Japanese. She went back to her husband of 10 years, Ni Jincheng, who later died fighting the Japanese. Zhou remarried and lives with her son, Jiang, from her second marriage. Jiang said his mother had been moved to tell her story after learning of the death of Lei Guiying, a well-known former Chinese comfort woman. Lei died of a brain haemorrhage in April. She had gone public with her experiences last year after hiding the ordeal from her family for 60 years. Jiang said he was not ashamed of his mother, one of only an estimated 50 former Chinese sex slaves still alive today. He said her experiences should highlight to the world the extent of the wartime crimes committed by the Japanese. "When my mother told me about this, as her son, I do not hate her for that. The Japanese are the ones I should be hating. The Japanese are those who committed the crimes. The Japanese are responsible for this, they raped all of the women," he said. Tokyo has not paid direct compensation to any of the estimated 200,000 mostly Asian women forced to work in brothels for the Japanese military before and during World War Two, saying all claims were settled by peace treaties that ended the war. Instead, in 1995, Tokyo set up the Asian Women's Fund, a private group with heavy government support, to make cash payments to surviving wartime sex slaves.

SHANGHAI - One experimental clean-energy car runs on natural gas. Another uses ethanol distilled from corn. A third has a zero-emissions electric motor powered by a hydrogen fuel cell. Visitors walk around a Ryuga Mazda car on display during The Shanghai Auto Show in Shanghai April 21, 2007. These alternative vehicles were created not by a global automaker but by China's small but ambitious car companies, which displayed them Sunday alongside gasoline-powered sedans and sport utility vehicles at the start of the Shanghai Auto Show. At a time when they are still trying to establish themselves in international markets, Chinese automakers are already investing in such avant-garde research in a bid to win a foothold in the next generation of technology. "This is the tide of the industry. If you don't go with the tide, the industry will pass you by," said Qin Lihong, a vice president of China's biggest domestic automaker, Chery Auto Co., in an interview ahead of the show's opening. China's leaders are encouraging the development as part of efforts to cut pollution and rising dependence on imported oil and to make this country a creator of profitable technologies. Chinese manufacturers are getting help from foreign automakers in joint ventures and from research alliances with Chinese universities and government laboratories. Beijing has made cleaner cars a policy priority, targeting the field as one of 11 priority areas in a 15-year technology development plan issued in February 2006. It promised grants and tax breaks to support industry efforts. The campaign embodies one of Beijing's strategies in technology development: Pick new areas with no entrenched competitors so China can make breakthroughs without huge costs. While foreign automakers have a lead in conventional technology, "in new energy we're starting from almost the same line," said Chen Hong, the president of Shanghai Automotive Industries Corp. "So we believe we can catch up with other auto companies and make great progress in developing new energy vehicles," Chen said. China's leaders are pressing its auto, steel, manufacturing and other industries to improve energy efficiency and cut pollution. They see China's rising reliance on imported oil as a strategic weakness. China already is the world's No. 2 oil consumer after the United States and saw imports soar by 14.5 percent in 2006, driven by economic growth that has topped 10 percent for the past four years. A boom in car sales has added to smog shrouding China's major cities, which are among the world's dirtiest. Vehicle sales jumped 25.1 percent last year to 7.2 million units, including 3.8 million passenger cars. At the Shanghai show, both SAIC and Chery displayed experimental fuel-cell sedans, while they and a third Chinese automaker, Chang'an Automobile Group Co., also showed gasoline-electric hybrids. SAIC said it will start selling its hybrid next year, while Qin said Chery's would go on the market in two to three years. "The hybrid will be our focus," SAIC chairman Hu Maoyan said at a news conference. "The fuel cell will be our direction." SAIC has spent 100 million yuan ( million) on fuel cell research, according to state media. Chery had the widest array of alternative vehicles on display at the Shanghai show. They included models outfitted to run on bio-diesel made from vegetable oil or a "flexible fuel" choice of compressed natural gas or ethanol. Foreign automakers also are playing a role in China's research. General Motors Corp. has a joint-venture technology center with SAIC in Shanghai and operates three experimental fuel cell buses in the city. DaimlerChrysler AG has three of its own fuel cell buses running regular routes in Beijing in a research project with the technology ministry. Foreign automakers including GM, Ford Motor Co., BMW AG and Honda Motor Co. displayed their own hybrids and experimental fuel cell cars at the Shanghai show. Company officials said hydrogen fuel cells, which produce power with no exhaust, are the cleanest option. But they say it could be a decade or more before such technology is commercially feasible, due partly to the need to create a network of hydrogen filling stations. Chinese authorities also are looking at other possible fuels such as natural gas and methane extracted from coal, said Mei-Wei Cheng, the president of Ford's China operations. "This is not an easy decision, because every option has pros and cons," Cheng said. "The government is trying to find a solution as quickly as possible, but this is a difficult problem."
At the end of a dusty narrow path cutting through a stretch of cornfields on the outskirts of Qingyang, an obscure town in Henan Province, looms a 3-hectare ground dotted with green tents, armored cars and bulldozers. Over the past three months, 315 Chinese engineering troops have gone through the rigors of tough day-night training here. And in a month from now, they will travel more than 8,000 km to Darfur in Sudan to be part of a special UN peacekeeping mission.Commander of UN Mission in Sudan Lieutenant General Jasbir Singh Lidder (L) hands over Unit Citations to Chinese peacekeepers for their excellent performance at the base of the Chinese peacekeeping troops on September 12, 2007. [Xinhua]The first international group of peacekeepers to be deployed in Darfur will build barracks, roads and bridges, and dig wells, which form the key to the accession of more UN peacekeepers to the region. The drills the engineering troops, with the UN's blue berets, perform in front a group of reporters from home and abroad show what they are capable of. In about 10 minutes, bulldozers and road-rollers smoothen a potholed path and soldiers use bare hands to move a 40-meter stretch of steel bridge into place over a ditch. In less than that time, another squad builds a cabin with prefabricated aluminum walls and a "UN" symbol on its side. On show, too, are impressive wrestling and battlefield aid performances."The engineering unit is manned by sturdy, versatile soldiers, mainly from the Jinan Military Area," says Lieutenant Colonel Dai Shaoan, deputy director of the Ministry of National Defense's peacekeeping affairs office. "They have wide experience in building roads and bridges and are fully competent for the mission."The Chinese troops are part of the "Annan Plan", a three-phased approach proposed by former UN secretary-general Kofi Annan to end the Darfur crisis. The plan calls for deploying a joint UN-African Union (AU) peacekeeping force in the 500,000-square-km arid Darfur region, plagued by conflicts over limited resources. Their deployment has been made possible after a hard-won diplomatic tug-of-war.Dai says the UN invited China in April to dispatch a multi-functional engineering unit to Dafur. Four months later, the world body requested that the unit be dispatched in early October."We are doing the preparatory jobs in line with the prescribed timetable to guarantee smooth implementation of the peacekeeping operation," says engineering unit head Shangguan Linhong.The force comprises three engineering platoons, a platoon each of well-diggers and 40 guards, a small hospital unit, 145 vehicles including excavators, bulldozers, road-rollers, power generators and armored personnel carriers, Shangguan says. All the vehicles are "brand new" from domestic companies and have undergone strict tests in line with UN standards.Since its formation in mid-June, the engineering unit has attended intensive courses, from emergency aid to simulating heat in Darfur and from studying UN regulations to getting to know Sudanese culture. "Everyone in our unit can communicate in English to a certain extent," Shangguan says.The UN raised the alarm on Darfur in 2003, and began looking for a lasting resolution to the ethnic conflict. The Darfur Peace Agreement (DPA) was signed in May 2006, thanks to intensive diplomatic and political efforts of the UN, AU and other partners. It took more than one year after that to persuade the Sudanese authorities to accept the UN-AU "hybrid" peacekeeping force.President Hu Jintao met with his Sudanese counterpart Omar al-Bashir in Beijing last November and in Khartoum in February, and asked him to be flexible in his stance over Darfur and ensure that humanitarian aid was distributed properly among the refugees. In March, when Sudan and the UN differed over the implementation of the Annan Plan, China sent a special envoy several times to Khartoum to persuade the government to accept the UN resolution."I think the Sudanese government heeded China's advice," China's special representative for Darfur Liu Guijin said at a press conference in early July. Sudan agreed in June to have the "hybrid" force in Darfur after intense diplomatic efforts of the UN and the international community. Besides, China offered million in humanitarian aid to Sudan, with the last installment leaving Tianjin last month.The latest situation in Darfur is a mixture of good and bad. The UN says the mortality rate in the region is now below the emergency level because of the massive humanitarian efforts of the last four years. Also, malnutrition has been halved from mid-2004, when the crisis reached its peak.But in June, the UN Environment Programme reported an "unprecedented" long-term climate change in northern Darfur, saying its impacts are closely linked to the conflict.This is a real challenge for the Chinese engineering troops, but they are not unnecessarily perturbed. In fact, they are ready to overcome all obstacles on the road to peace."The challenges ahead of our peacekeeping troops are obvious," says Dai. Poor living conditions, lack of proper infrastructure and complex security situations are the obvious challenges. "But our army has a glorious tradition of being hard-working, particularly combat-worthy and of playing a contributory role."Major Ma, an officer with the engineering troops, says Chinese soldiers see the UN peacekeeping operation as a glorious opportunity. "Implementing a mission so far from the country and being part of the efforts to maintain peace in the world is a unique experience."All the soldiers in the battalion which Ma used to serve in the Jinan Military Area had applied to be part of the engineering unit for Darfur, and they included 18-year-old recruits, he says, and they had the full support of their families.But is Ma worried about the dangers in Darfur? The major says: "What we think of most is how to do a nice job. Danger and difficulties are normal for servicemen."China's peacekeepers till nowSince dispatching five military observers to the UN Truce Supervision Organization (UNTSO) in 1990, China's People's Liberation Army (PLA) has sent 8,095 military personnel to 17 UN peacekeeping missions. Altogether, 1,648 Chinese officers and soldiers are serving in 10 UN missions and the UN Department of Peacekeeping Operations today.Lieutenant Colonel Dai Shaoan, deputy director of the Ministry of National Defense's peacekeeping affairs office, says China will participate only in those peacekeeping missions that are in line with the UN Charter, which means those operations overseen by the UN Security Council.China has contributed peacekeepers in the shape of engineers and medical and transport units. It has not sent any combat troops for peacekeeping operations.But Dai says China has a "positive" attitude towards sending combat troops for future UN peacekeeping operations.
BEIJING -- China may entirely switch to non-food materials such as cassva, sweet potato, sorgo and cellulose in producing ethanol fuel as a substitute for petroleum, said a government official. The country would approve no projects designed to produce ethanol fuel with food from now on, an official of the National Development and Reform Commission (NDRC) told a seminar on China's fuel ethanol development held in Beijing on Saturday. "Food-based ethanol fuel will not be the direction for China," said Xu Dingming, vice director of the Office of the National Energy Leading Group, who was also at the seminar. China has been trying to avoid occupation of arable land, consumption of large amount of grain and damages to the environment in developing the renewable energies. The current four enterprises engaged in producing corn-based ethanol would be asked to switch to non-food materials gradually, according to the NDRC official who declined to be named. The four enterprises in Jilin, Heilongjiang, Henan and Anhui have a combined production capacity of 1.02 million tons of corn-based ethanol per year. The country has become a big producer and consumer of ethanol fuel in the world after the United States, Brazil and European Union, according to the NDRC official. China Oil and Food Corporation (COFCO), the country's largest oil and food importer and exporter, would focus on sorgo in the production of non-food-based ethanol fuel, said Yu Xubo, president of COFCO at the seminar. COFCO, which owns the Heilongjiang enterprise and has a twenty-percent stake in the Anhui enterprise, aims to produce five million tons of ethanol fuel based on sorgo in the near future. COFCO is leading the way in developing cellulosic ethanol fuel under a cooperation agreement with Denmark-based Novozymes, which leads the world in researches into the key enzymes needed in large-scale production of cellulosic ethanol. The current cost for producing ethanol fuel from stalks of corn, which are discarded by farmers, is still too high. Novozymes is working on the commercialization of cellulosic ethanol both in the United States and China. "We are optimistic about China's prospect of making it work ahead of the US, as the cost of collecting the stalks of corn are much cheaper in China," said Steen Riisgaard, president and CEO of Novozymes. There is much opposition both in China and in the world to corn-based ethanol fuel, which is believed will lead to higher corn price.
来源:资阳报