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UNITED NATIONS, Nov. 14 (Xinhua) -- China called on the international community here on Friday to honor its commitment of aid to Iraq so as to help speed up its process of reconstruction and development. La Yuefan, minister counselor from the Chinese mission to the United Nations, said at the Security Council meeting on the situation concerning Iraq that for progress in security and political fields to be effectively consolidated, economic and social reconstruction must also move ahead. In this regard, "we call upon the international community to truly honor its commitment of aid to Iraq by helping Iraq speed up its process of reconstruction and development," La said, adding that China supports the meeting of foreign ministers of neighboring countries and other mechanisms playing a bigger role. China also hopes that the Iraqi government will continue to lead all factions to agree on the common vision for the future of the country by placing national interests above everything else and strengthening dialogue and unity, La said. "We encourage UNAMI (the United Nations Assistance Mission for Iraq) to continue its positive role in this regard. We believe it is essential to promote political dialogue and national reconciliation of Iraq in order to consolidate the progress already achieved in various fields," the Chinese diplomat said. Noting that right now the process of peace and recovery in Iraqis at a critical juncture, La said China welcomes the continuous progress achieved by Iraq in the political, security and recovery fields. However, he pointed out that the overall security situation in Iraq remained fragile. "We are especially concerned about the large number of civilian casualties caused by military operations and violent attacks," La said. "We call once again upon the parties concerned to do everything possible to avoid civilian casualties while carrying out military operations," he said.
BEIJING, Jan. 16 (Xinhua) -- Chinese Vice President and member of the Standing Committee of the Communist Party of China (CPC) Central Committee Political Bureau Xi Jinping Friday conferred certificates on graduates of the Party School of the CPC Central Committee. Xi, also a member of the Secretariat of the CPC Central Committee, heads the school. Politburo member and director of the CPC Central Committee Organization Department Li Yuanchao and Ling Jihua, director of the General Office of the CPC Central Committee, both members of the Secretariat of the CPC Central Committee, also attended the graduation ceremony. The ceremony marked the graduation of 577 Party officials from the Central Party School and more than 2,600 graduates from the school's branches. The Party School of the CPC Central Committee is the highest institution for training high- and middle-ranking party officials and Maxist theoreticians. The School's history dates back to the school of Marxism and Communism set up in March 1933.
BEIJING, Nov. 20 (Xinhua) -- China has been studying a fuel tax reform to replace the current road tolls imposed upon vehicles, the National Development and Reform Commission (NDRC), the country's top economic planner, announced here on Thursday. The announcement came after media reports said on Wednesday that the government was likely to impose the fuel tax as early as next month. The NDRC together with the Ministry of Finance and the Ministry of Transport has jointly held discussions on related issues including abolishing road and waterway maintenance fees, lowering refined oil prices and improving the fuel pricing system. The planner didn't specify when to launch the long-awaited reform. The introduction of a fuel tax in China was first proposed in 1994 but has been delayed amid concerns that it would impose too great a burden on those who consumed more oil. The government has instead collected road maintenance fees from automobile users regardless of how much gasoline or diesel oil they use. Analysts said the on-going oil price drop presented a good opportunity for China to resume its fuel tax reform. World crude oil prices fell to the current 53.62 U.S. dollars, down more than 60 percent from the peak price of 147 U.S. dollars in mid-July.
BEIJING, Jan. 22 (Xinhua) -- China's economy cooled to its slowest pace in seven years in 2008, expanding 9 percent year-on-year as the widening global financial crisis continued to affect the world's fastest-growing economy, official data showed Thursday. Gross domestic product (GDP) reached 30.067 trillion yuan (4.4216 trillion U.S. dollars) in 2008, Ma Jiantang, director of the National Bureau of Statistics (NBS), told a press conference. The 9-percent rate was the lowest since 2001, when an annual rate of 8.3 percent was recorded, and it was the first time China's GDP growth fell into the single-digit range since 2003. The year-on-year growth rate for the fourth quarter slid to 6.8 percent from 9 percent in the third quarter and 9.9 percent for the first three quarters, according to Ma. Graphics shows China's gross domestic product (GDP) in the year of 2008, released by the National Bureau of Statistics (NBS) on Jan. 22, 2009. China's GDP reached 30.067 trillion yuan (4.4216 trillion U.S. dollars) in 2008, expanding 9 percent year-on-year. Economic growth showed "an obvious correction" last year, but the full-year performance was still better than other countries affected by the global financial crisis, said Zhang Liqun, a researcher with the Development Research Center of the State Council, or cabinet. He attributed the fourth-quarter weakness to reduced industrial output as inventories piled up amid sharply lower foreign demand. Exports, which accounted for about one-third of GDP, fell 2.8 percent year-on-year to 111.16 billion U.S. dollars in December. Exports declined 2.2 percent in November from a year earlier. Industrial output rose 12.9 percent year-on-year in 2008, down 5.6 percentage points from the previous year, said Ma. SEEKING THE BOTTOM Government economist Wang Xiaoguang said the 6.8-percent growth rate in the fourth quarter was not a sign of a "hard landing," just a necessary "adjustment" from previous rapid expansion. "This round of downward adjustment won't bottom out in just a year or several quarters but might last two or three years, which is a normal situation," he said. A report Thursday from London-based Standard Chartered Bank called the 6.8-percent growth in the fourth quarter "respectable" but said the data overall presented "a batch of mixed signals." It said: "We probably saw zero real growth in the fourth quarter compared with the third quarter, and it could have been marginally negative." The weakening economy has already had an impact on several Chinese industrial giants. Angang Steel Co. Ltd. (Ansteel), one of the top three steel producers, said Wednesday net profit fell 55 percent last year as steel prices plunged. It cited weakening demand late in the year. However, officials and analysts said some positive signs surfaced in December, which they said indicated China could recover before other countries. December figures on money supply, consumption, and industrial output showed some "positive changes" but whether they represented a trend was unclear, said Ma. Outstanding local currency loans for December expanded by 771.8 billion yuan, up 723.3 billion from a year earlier, according to official data. Real retail sales growth in December accelerated 0.8 percentage points from November to 17.4 percent. Industrial output also accelerated in December, up 0.3 percentage points from the annual rate of November. Wang Qing, Morgan Stanley Asia chief economist for China, said GDP growth would hit a trough in the first or second quarter. China will perform better than most economies affected by the global crisis and gradually improve this year, he said. Zhang also predicted the economy will touch bottom and start to recover later this year, depending on the performance in January and February. Zhang forecast GDP growth of more than 8 percent for 2009, based on the assumption that domestic demand and accelerating urbanization would help cushion China from world economic conditions. Wang Tongsan, an economist with the Chinese Academy of Social Sciences, said whether GDP growth exceeds 8 percent this year depends on how the world economy performs and how well the government stimulus policies are implemented. Ma characterized the "difficulties" China experienced in the fourth quarter as temporary, saying: "We should have the confidence to be the first country out of the crisis." Overall, the economy maintained good momentum with fast growth, stable prices, optimized structures and improved living standards, said Ma. China's performance was better than the average growth of 3.7 percent for the world economy last year, 1.4 percent for developed countries and 6.6 percent for developing and emerging economies, he said, citing estimates of the International Monetary Fund. "With a 9-percent rate, China actually contributed more than 20 percent of global economic growth in 2008," said Ma. He said the industrial structure became "more balanced" last year, with faster growth of investment and industrial output in the less-developed central and western regions than in the eastern areas. Meanwhile, energy efficiency improved: energy intensity, the amount of energy it takes to produce a unit of GDP, fell 4.21 percent year-on-year in 2008, a larger decrease than the 3.66 percent recorded in 2007, said Ma. WORRIES ABOUT CONSUMPTION A slowing economy poses a concern for the authorities, which they have acknowledged several times in recent weeks, as rising unemployment could threaten social stability. It could also undermine consumer spending, which the government is counting on to offset weak external demand. The government has maintained a target of 8 percent annual economic growth since 2005. China announced a 4 trillion-yuan economic stimulus package in November aimed at boosting domestic demand. Retail sales rose 21.6 percent in 2008, 4.8 percentage points more than in 2007, said Ma. Ma said he believed domestic consumption would maintain rapid growth as long as personal incomes continue to increase and social security benefits improve. Urban disposable incomes rose a real 8.4 percent last year, while those of rural Chinese went up 8 percent, he said. Analysts have warned that consumption could be affected if low rates of inflation deteriorate into outright deflation and factory closures result in more jobless migrant workers. The urban unemployment rate rose to 4.2 percent at the end of 2008, up 0.2 percentage point year-on-year. Ma said about 5 percent of 130 million migrant workers had returned to their rural homes since late 2008 because their employers closed down or suspended production. Other officials have said that 6.5 percent or even 10 percent of migrant workers have gone home after losing their jobs.