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NEW YORK, March 1 (Xinhua) -- Leaders of some Chinese-American communities and a Chinese-language newspaper on Sunday lauded Premier Wen Jiabao's online chat with netizens in Beijing a day earlier. Wen's online chat with netizens shows that the top leadership of the Communist Party of China (CPC) is paying ever closer attention to public opinion, said Steven Wong, acting chairman of the United Federation of Chinese Associations. Chinese Premier Wen Jiabao holds an online chat with netizens jointly hosted by the central government website and Xinhua website in Beijing, China, Feb. 28, 2009. Premier Wen rushed to the affected areas immediately after the snow disaster in China's south and the devastating earthquake in the southwest last year to comfort survivors, winning him widespread respect, Wong said. On the eve of the opening of the annual sessions of the National People's Congress and the Chinese People's Political Consultative Conference, Wen held direct dialogue with netizens to solicit opinions and suggestions from the public, which is not only a boost to public morale, but is also conducive to solving problems in society at large, he said. Liu Jianmin, chairman of the Greater Los Angeles Area Federation of Promoting China's Unification, said Wen's online chat with Chinese netizens is all the more meaningful as it was held on the eve of the annual meetings of the national legislature and the top advisory body. Through direct dialogue with vast numbers of netizens, the Chinese leaders could have a deeper understanding of what the ordinary people have in their minds. Chinese Premier Wen Jiabao(L) holds an online chat with netizens jointly hosted by the central government website and the Xinhua News Agency website in Beijing, China, Feb. 28, 2009The World Journal, the widest-circulation Chinese-language newspaper in North America, carried the online chat as the headline news on its Chinese Mainland edition. The report drew attention to the remarks of Premier Wen who emphasized the importance of confidence to fighting the spreading global financial crisis, pledged continued efforts to improve health care and stressed that training and preferential tax measures were needed to encourage rural migrant workers to start their own businesses.
BEIJING, April 11 (Xinhua) -- China's foreign exchange reserves rose 16 percent year-on-year to 1.9537 trillion U.S. dollars by the end of March, said the People's Bank of China on Saturday. It represents an increase of 7.7 billion dollars for the first quarter, but the increase was 146.2 billion dollars lower than the same period of last year. Outstanding foreign currency loans stood at 235.2 billion U.S. dollars by the end of March, down 11.7 percent year on year. In the first quarter, foreign currency loans dropped by 8.5 billion U.S. dollars. The decline was 57.3 billion U.S. dollars heavier over the same period of last year. In March, foreign currency loans rose by 4.3 billion U.S. dollars. The increase was 6.4 billion U.S. dollars lower than the same period of last year. Meanwhile, outstanding foreign currency deposits rose 28.9 percent, or 7.5 billion U.S. dollars, to 200.3 billion U.S. dollars in the first quarter. The increase was 13 billion U.S. dollars higher over the same period of last year. In March alone, foreign currency deposits rose by 3.3 billion U.S. dollars. The increase was 1.8 billion U.S. dollars higher over the same month in 2008. Analysts said the smaller growth of foreign exchange reserves in the first quarter was related with changes in the value of non-U.S.-dollar assets and money flows under the capital account. In March alone, the foreign exchange reserves rose by 41.7 billion U.S. dollars. The increase was 6.7 billion U.S. dollars higher than the corresponding period of last year. The country's foreign exchange reserves reduced to 1.914 trillion U.S. dollars at the end of January and 1.912 trillion U.S. dollars at the end of February. "Changes of foreign exchange reserves in the first quarter were mainly driven by non-U.S.-dollar assets' volatile fluctuation," said Liu Yuhui, an economist with Chinese Academy of Social Sciences (CASS). During the first quarter, especially the first two months, non-dollar foreign currencies dropped heavily against the U.S. dollar, leaving about 40 percent of the country's non-dollar assets depreciated. Meanwhile, the country's trade surplus had reduced during the first quarter due to a weakening external demand. Exports fell 17.5 percent in January, 25.7 percent in February and 17.1 percent in March. In February, trade surplus plummeted by34.3 billion U.S. dollars to 4.8 billion. "The 7.7-billion-dollar increase in foreign exchange reserves for the first quarter showed the country's economy still depends heavily on external demand," said Mei Xinyu, an economist with the Ministry of Commerce (MOC). Yuan Gangming, a researcher with the CASS, said the smaller increase in foreign exchange reserves might also be caused by capital flight. Official statistics show during the first two months, the actually-utilized foreign direct investment dropped by 26.2 percent. A large proportion of the country's foreign exchange reserves are invested in U.S. treasuries and notes. Last month, the U.S. Federal Reserve announced a plan to buy up to 300 billion U.S. dollars in long-term treasuries. That added to worries in the value stability of the country's foreign exchange reserves. Mei said the slower growth in foreign exchange reserves could be conducive to the national economic security because less capital would be exposed to devaluation risks. "The top priority should be to keep the value of foreign exchange reserves stable," said Yuan. He suggested relevant authorities should keep a close eye on flows of foreign reserves and prevent a similar capital flight that happened after the Asian financial crisis.

BEIJING, Feb. 2 (Xinhua) -- About 20 million of China's migrant workers have returned home after losing their jobs as the global financial crisis takes a toll on the economy, said a senior official here on Monday. Chen Xiwen, director of the office of the central leading group on rural work, said about 15.3 percent of the 130 million migrant workers had returned jobless from cities to the countryside. The figures were based on a survey by the Ministry of Agriculture in 150 villages in 15 provinces, carried out before the week-long Lunar New Year holiday which began on Jan. 25. Chen Xiwen, director of the Office of the Central Leading Group on Rural Work, speaks at a press conference held by the State Council Information Office, Feb. 2, 2009. His remarks came a day after the central government issued its first document this year, which warned 2009 will be "possibly the toughest year" since the turn of the century in terms of securing economic development and consolidating the "sound development momentum" in agriculture and rural areas. The country's economic growth slowed to 6.8 percent in the fourth quarter of 2008, dragging down the annual rate to a seven-year low of 9 percent. The document urged local and central government departments to adopt measures to create jobs and increase rural incomes. Companies were asked to take on more social responsibilities and give rural migrant workers more favorable employment treatment. Flexible employment policies and more training chances were also encouraged. Meanwhile, local government departments should increase investment to provide favorable tax and fee policies to those who lost jobs in cities and expect to find new work in their hometowns. The government also urged departments to map out basic pension insurance measures suitable for rural conditions and migrant workers to ensure their rights.
BEIJING, Feb. 9 (Xinhua) -- Chinese equities continued gains on Monday from last week's trading and advanced to a four-month high since late September as signs of an economic recovery, a raft of stimulus plans and a rally in the U.S. stock market boosted confidence, said analysts. The government rolled out plans to revive the textile industry and machinery manufacturing industry last week after auto and steel stimulus packages. Measures to support the shipping industry, the non-ferrous metal industry and others are yet to come. These efforts helped buoyed market confidence, said analysts. The country's economy was resilient and posted signs of recovery, partially because of the economic stimulus plans as the Purchasing Managers' Index (PMI) of the manufacturing sector released on Feb.4 rose to 45.3 in January from 41.2 in December. The Shanghai A-share index rose 43.47 points, or 1.99 percent, to close at 2,224.71, and the Shenzhen Component Index posted a bigger rise of 4.06 percent, or 315.79 points, to 8,087.69. Combined turnover climbed to a nearly nine-month high at 235.5 billion yuan (34.5 billion U.S. dollars), up from the 189.6 billion yuan from the previous trading day. Gains outnumber losses by 841 to 29 in Shanghai and 713 to 34 in Shenzhen. Non-ferrous metal rose across the board boosted by rising metal prices. Shanghai copper surged by its daily limit of 5 percent, or1,400 yuan per tonne to 29,510 yuan per tonne. Shanghai aluminum rose 3.56 percent to 12,225 yuan per tonne. Their gains also lifted other base metals. Aluminum Corporation of China, the country's largest aluminum producer, advanced by the daily limit of 10 percent to end at 9.56yuan. Yunnan copper, China's third largest smelter of the metal, rose by the daily limit of 10 percent to 13.07 yuan. Liaoning-based Huludao Zinc Industry also gained by the daily limit of 10 percent to 4.16 yuan. China Cosco Holdings Co. surged by the daily limit of 10 percent to 10.74 yuan after the Baltic Dry Index, a gauge of commodity shipping costs, posted a strong rise of 53 percent over last week. China Shipping Container Lines Company moved up 6.49 percent to 3.34 yuan.
BEIJING, Feb. 25 (Xinhua) -- Senior members of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) met Wednesday to discuss the agenda of the annual conference in March. Jia Qinglin, chairman of the CPPCC National Committee and member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau, presided over the meeting of the Standing Committee of the 11th CPPCC National Committee. The fourth meeting of the Standing Committee of the 11th National Committee of the Chinese People's Political Consultative Conference (CPPCC) is held in Beijing, capital of China, Feb. 25, 2009During the three-day meeting, the senior political advisors will set an agenda for the Second Session of the 11th CPPCC National Committee, discuss and approve a work report of the Standing Committee of the CPPCC National Committee, and study a report on the handling of proposals put forward by CPPCC members at last year's annual meeting. The CPPCC reflects China's "multi-party cooperation system" under the leadership of the CPC. The CPPCC committees at different levels have representatives from different political groups, ethnic groups, and people of all walks of life.
来源:资阳报