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UNITED NATIONS, Jan. 1 (Xinhua) -- China on Friday assumed the rotating presidency of the UN Security Council for the month of January. China will perform its duty as the rotating Council president in an objective and fair way and work with other Council members to maintain international peace and security, said Zhang Yesui, China's permanent representative to the United Nations, in a recent interview. China will do its utmost to make sure that the Security Council works in a smooth and efficient way, Zhang added. The Security Council presidency rotates among the Council members in the English alphabetical order of their names. Each president holds office for one calendar month. China previously assumed the presidency in October 2008. As a permanent member of the Security Council and the largest developing country in the world, China fully participates in the work of the United Nations and plays a constructive role, Zhang said. Under the UN Charter, the Security Council has the primary responsibility for the maintenance of international peace and security in the world at large. The Council has 15 members: five permanent members -- China, France, the Russian Federation, the United Kingdom and the United States -- and 10 non-permanent members elected by the UN General Assembly for two-year terms. Also on Friday, Bosnia and Herzegovina, Brazil, Gabon, Lebanon and Nigeria began their two-year terms on the 15-nation Council. The five new Security Council members were chosen after running uncontested races for the non-permanent seats, and they were duly elected by the 192-member General Assembly during a secret ballot at the United Nations Headquarters in New York in October 2009. The five countries joined Austria, Japan, Mexico, Turkey and Uganda, whose terms on the Council end on Dec. 31, 2010.
BEIJING, Oct. 28 (Xinhua) -- Chinese Vice President Xi Jinping on Wednesday called for efforts to carry on patriotism and spirit of selfless devotion for the advancement of the country's modernization drive. Xi made the call at a seminar to mark the 120th anniversary of the birth of Li Dazhao, a founder of the Communist Party of China(CPC). Chinese Vice President Xi Jinping (R) shakes hands with a relative of Li Dazhao in Beijing, Oct. 28, 2009. A conference was held Wednesday to commemorate the 120th anniversary of the birth of Li Dazhao(1889-1927), one of the main founders of the Communist Party of China (CPC). Xi called Li a forerunner of the CPC movement, a great Marxist and an outstanding proletarian revolutionist. Born on Oct. 29, 1889, Li was a Chinese intellectual and one of the leaders of the anti-imperialism "May Fourth Movement" in 1919.He was captured by a warlord in 1927 and then executed. Photo taken on Oct. 28, 2009 shows a scene at a conference to commemorate the 120th anniversary of the birth of Li Dazhao(1889-1927), one of the main founders of the Communist Party of China (CPC).
CAIRO, Nov. 6 (Xinhua) -- Chinese Premier Wen Jiabao arrived here Friday, starting a two-day official visit to Egypt preceding a top-level review of action to build China-Africa cooperation. Egyptian Prime Minister Ahmed Nazef received Wen at the airport. During his visit, Wen is scheduled to meet with Egyptian President Hosni Mubarak and hold talks with Nazef. He will also meet with Arab League chief Amr Mussa, and deliver a speech at the Arab League headquarters in Cairo. This is Wen's second official visit to Egypt. The first was in 2006, which marked the 50th anniversary of establishing diplomaticties between China and Egypt. Visiting Chinese Premier Wen Jiabao is greeted during a welcoming ceremony in Cairo, capital of Egypt, Nov. 6, 2009After his official visit to Egypt, Wen will attend the opening ceremony of the fourth ministerial meeting of the Forum on China-Africa Cooperation (FOCAC) in the Egyptian resort of Sharm el-Sheikh on Sunday. Wen will also hold bilateral meetings with leaders of FOCAC member countries at Sharm el-Sheikh. The FOCAC meeting, an important gathering after the Beijing Summit of the forum in November 2006, will review how the consensus of the Beijing Summit has been implemented. It is also expected to adopt a declaration and an action plan for 2010-2012 to chart the path for further China-Africa cooperation. Chinese Foreign Minister Yang Jiechi and Commerce Minister Chen Deming, as well as other senior officials, are accompanying Wen.
JOHANNESBURG, Dec. 24, (Xinhua) -- Legal ties between China and Africa have taken a major step forward with the conclusion of the First Forum on China-Africa Legal Co-operation in Cairo, Egypt on Monday. Under the theme "Strengthen China-Africa Legal Exchange and Promote All Round Development of China-Africa Relationship", this forum was the first time lawyers from the China and Africa had met in such circumstances. Greg Nott, who led the South African delegation, said on his return to Johannesburg on Thursday that he was "terribly excited by this forum and look forward to the implementation of a number of proposals tabled." These included an exchange and cooperation between Chinese and African legal circles and a legal "think tank" to promote a universal and sustainable development of the China-Africa relationship. Nott, who is the legal representative of the China-Africa Development Fund as well other China investor clients, said there were a number of other "ambitious and exciting proposals". These include "the establishment of training and consulting centres as well as training projects for young African lawyers. This goes all hand-in-hand with private sector lawyers driving intellectual and legal support for business activity on both continents." The forum was convened as the first step towards pragmatic cooperation between Chinese and African legal circles. It was attended by delegates from Botswana, Ethiopia, Nigeria, Tanzania, Uganda and Zambia, as well as a strong delegation from the China Law Society. The agenda included the important role of law in China-Africa cooperation, an introduction to the legal systems of China and African countries and their impact on trade and investment relations. A number of prominent Egyptian and Chinese lawyers presided over the panels. The lawyers have much work to do because while China has one legal system, the 53 nations which make up Africa each have their own systems. Most are based on either the British legal system, with elements of Roman/Dutch law, or the French legal system. There is also a strong legacy of Portuguese influence in former colonies. China's civil law system is based on traditional customs and practices, with Soviet and German influence. Held on Dec. 20 and 21, the forum was hosted at the Cairo Regional Centre for International Commercial Arbitration. The South African delegation included Rajen Ranchhoojee and Sheng Wu of the Johannesburg legal firm Dewey & LeBoeuf, where Nott is the managing partner. The legal forum followed shortly after the meeting of foreign ministers at the fourth Forum on Africa China Cooperation, which was held in for Sharm-El-Sheikh, Egypt from Nov. 8 to 9. At that meeting South African International Relations and Cooperation Minister Maite Nkoana Mashabane said China had played an important role in Africa's renewal. "For instance it has had significant role in peacekeeping in Africa." She said a major strength of Chinese aid was its orientation to recipient priorities such as infrastructure (telecommunications, energy, roads) and productive sector investments (agriculture). "Furthermore, Chinese assistance is considered to be relatively predictable assistance because it is disbursed on schedule within the intended financial year." At that point she said development cooperation between South Africa and China is was regulated by two Agreements, "namely an agreement on Human Resource Development that was signed in 2004 and a February 2007 Agreement on Technical and Economic Cooperation".
BEIJING, Oct. 26 -- Delegations from more than 84 countries and regions will participate the ITD conference Monday, and a host of international experts from governments, the private sector and academia will make presentations and lead discussions on this important topic. The ITD is a cooperative venture formed in 2002 and comprised of the International Monetary Fund (IMF), the Organisation for Economic Cooperation and Development (OECD), the World Bank, the Inter-American Development Bank, the European Commission and the UK Department for International Development. Its purpose is to foster dialogue on important topics in tax policy and administration and to function as a disseminator and repository of information on matters of interest in taxation around the world, through its website, www.itdweb.org. The IMF attaches great importance to its role as a founding member of the ITD. Recent events in the world economy have made even clearer the necessity of international cooperation and sharing experience in economic matters, and this is the very purpose, which the ITD serves. The topic of this conference is a timely and critical one. The world has been reminded recently and forcefully of the great importance of the financial sector for macroeconomic stability, growth, and development goals. The sector plays a critical intermediating function - without it credit could not exist, capital could not be channeled to useful purposes and risks could not be managed. The conference will take place against the background of the worst financial and economic crisis to strike the world in three generations, and, while taxation was not itself the cause of the crisis, elements of the tax system are relevant to its background and resolution. Most tax systems embody incentives for corporations, financial institutions and in some cases individuals to use debt rather than equity finance. This is likely to have contributed to the crisis by leading to higher levels of debt than would otherwise have existed - even though there were no obvious tax changes that would explain rapid increases in debt. Tax distortions may also have encouraged the development of complex and opaque financial instruments and structures, including through extensive use of low-tax jurisdictions - which in turn contributed to the difficulty of identifying true levels of risk. The magnitude of the fiscal challenges facing the world economy is greater than at any other time since World War II. Estimates done by IMF staff on the fiscal adjustment necessary to bring government debt-to-GDP ratios down to 60 percent by 2030 - over 20 years hence - show a gap in the cyclically adjusted primary balances of some 8 percentage points of GDP in advanced economies to be closed between 2010 and 2020. This cannot all be accomplished by expenditure reduction. New, or increased, sources of revenue will need to be found, on average perhaps 3 percentage points of GDP. While improvements in compliance and administration could account for some of that gap, it will be necessary to adjust tax policies to a degree not hitherto seen on a wide scale. Although the world economy remains weak with downside risks and much hardship remain, signs of improvement are thankfully now visible. This is an opportune juncture, therefore, to begin the work of planning countries' exits from the deteriorated fiscal positions developed in response to the crisis, and to give thought to questions raised by the performance of the financial sector in triggering the crisis. What role can better tax policies and administration play in preventing a recurrence of this costly episode in economic history? The financial sector has been, and must continue to be, a critical link in the development of the world's economies. The sector has played a key role in accelerating the development of the emerging markets - many of which, prior to this most recent episode, had grown able to tap the world's financial resources at an increasing rate unparalleled in history. And for the world's most vulnerable economies, continued financial deepening will be absolutely necessary to permit them to meet their development goals. The upcoming conference will consider the role of taxation in both the industrial and developing countries with respect to these goals. The conference will address not only the role of the financial sector as a source of revenue itself, and its broader role in the development and growth of the world economy, but also its function in assisting in administration of the tax system-through information reporting, collection of tax payments, and withholding. This latter role will become ever more important with growing international cooperation in fighting tax evasion and avoidance. Finally, we must not lose sight of the main function of the tax system - to raise revenue in an economically efficient, non-distortionary, and administratively feasible manner. Even fully recognizing the existence of both market failures and policy-induced vulnerabilities, including those that contributed to this crisis, it is important to avoid accidentally introducing distortions through the tax system that may prove worse than the evils they are intended to remedy. "Neutrality" of taxation of the financial sector in this sense is a benchmark against which deviations from this objective may be measured and judged. One must ask whether any proposed interventions are targeted at a recognized externality or existing distortion, and, if so, whether the proposed action is the most appropriate response. And the multilateral institutions, in particular, must look to the effects which the financial sector and its taxation may have not only on the world's highly developed economies-those with the greatest depth of financial intermediation-but at the effects, direct and indirect, on the world's developing nations. International cooperation on these matters will be critical to making improvements that will benefit all of us. This week's important event, hosted by the Chinese government and organized by the ITD, is itself a model in this regard.