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TAIPEI, Aug. 25 (Xinhua) -- As of 18:00 pm Tuesday, Morakot, the worst typhoon to hit the island in 50 years, had claimed 461 lives and left 192 missing and 46 injured, according to Taiwan's disaster control center. Relatives mourn for their victims in front of mudslide area at the devastated village of Hsiaolin, in Kaohsiung county, southeast China's Taiwan Province, Aug. 15, 2009.Kaohsiung County had reported the largest casualties including 392 deaths, the center said. Morakot, which devastated Taiwan on August 8, had brought about a 14.5 billion NT dollars (440 million U.S. dollars) financial losses for agricultural, forestry, fishing and herding sectors, according to a report previously released by Taiwan's agricultural authorities . Photo taken on Aug. 24, 2009 shows the severely-damaged Nanheng Road section across the Taoyuan Village of Kaohsiung County, southeast China's Taiwan
WUHAN, Aug. 27 (Xinhua) -- East Star Airlines, the debt-laden private airline based in central China's Wuhan City, officially went bankrupt after its restructuring application was rejected Thursday. The Intermediate People's Court in Wuhan City said the plan submitted by the East Star Group and ChinaEquity was unfeasible and failed to meet the conditions for a legal restructuring. ChinaEquity, an investment company founded in 1999 in Beijing, had promised to invest 200 million to 300 million yuan (29 million to 44 million U.S. dollars) for the restructuring plan. However, it did not specify the source of the funding and failed to provide certificates and documents, and lacked measures to protect creditors, the court said. The court said East Star Airlines had no operating income in 2008, while ChinaEquity recorded 470,000 yuan in main business income and a 187,477-yuan deficit last year. File photo taken on May 19, 2006 shows the aircrew boarding on the Airbus 319 jumbo jet of the Dongxing Group Co. Ltd for its maiden flight at the Tianhe International Airport in Wuhan, central China's Hubei ProvinceThe East Star Group and ChinaEquity agreed the restructuring plan earlier this month. The Intermediate People's Court in Wuhan heard the plan Tuesday. East Star was founded in May 2005, making it China's fourth private carrier after Okay Airways, United Eagle Airlines and Spring Airlines. It operated more than 20 domestic passenger routes between key cities with a fleet of nine aircraft and held about 10 percent of the market share in Wuhan. The airline, with a registered capital of 80 million yuan, was jointly owned by a tourist agency, a tourist investment company and a real estate firm, which all belonged to the East Star Group. On March 13, the airline rejected a government-initiated take-over by the parent group of national flag carrier Air China. Its operations were suspended by the industry regulator as of March 15, due to prolonged financial and management problems. File photo taken on March 27, 2009 shows a jumbo jet of the Dongxing Group Co. Ltd lying on the tarmac, as a plane of another airway taking off overhead, at the Tianhe International Airport in Wuhan, central China's Hubei ProvinceThe order was issued by General Administration of Civil Aviation of China (CAAC)'s branch in charge of the country's central and southern areas after the Wuhan municipal government submitted an application for the suspension. The bankruptcy proceedings were launched on March 30 at the request of six creditors, according to the Communications Commission of Wuhan City. East Star Airlines announced last month that its total debt surpassed 752 million yuan. General Electric's aircraft leasing arm, GE Commercial Aviation Services, one of the creditors, has taken back all nine aircraft it had leased to the airline. State-owned Air China has recruited about 600 out of the more than 1,000 staff of East Star Airlines. The global economic downturn reduced air travel severely, making last year a hard time for the airline industry. The Chinese government injected billions of yuan into Air China, China Southern Airlines and China Eastern Airlines, the three major state-owned carriers, to help them ride out the downturn. Wang Chaoyong, chairman of ChinaEquity, said private airlines had no access to bailouts. Zhao Changbing, spokesman of East Star Airlines, said the government should protect the brand of the private business. Zhao said the airline rejected the takeover by the parent of Air China because the offer was too low and it only covered the debts.

BEIJING, Aug. 11 (Xinhua) -- China's key July economic data adds to the optimism that the world's third largest economy is back on the track to recovery amid the global downturn, though challenges still persist. The July decline compared MORE POSITIVE CHANGES Both investment and consumption, two major engines that drive up China's growth, increased, according to statistics the National Bureau of Statistics (NBS) released Tuesday. Urban fixed-asset investment rose 32.9 percent year on year in the first seven months. Retail sales, the main measure of consumer spending, rose 15.2 percent in July, following a 15 percent growth in June. Graphics shows China's consumer price index from January of 2008 to January of 2009. The CPI was down 1.8 percent in July compared with the same month a year earlier, according to National Bureau of Statistics of China on Aug. 11, 2009Further signs of rebound in private spending supported a sustained growth recovery, Peng Wensheng, analyst at the Barclays Capital, said in an e-mailed statement to Xinhua. Although exports, another bedrock that fueled China's fast growth in the past few years, fell on a year-on-year basis last month, there were signs of improvement. China's foreign trade figures were better than they looked on the surface. July exports fell 23 percent from a year earlier, but increased 10.4 percent from June. Imports declined 14.9 percent year on year last month, but rose 8.7 percent month on month. According to the General Administration of Customs, the country's foreign trade has risen since March measured from month to month, and the trend of recovery had stabilized. Improvements in these data indicated China's economy was recovering and the government's policies to boost domestic demand and stabilize foreign trade had paid off, said Zhang Yansheng, a researcher with the National Development and Reform Commission (NDRC), the country's economic planner. Among other statistics released Tuesday, industrial output climbed 10.8 percent in July from a year earlier, quickening from 10.7 percent in June and 8.9 percent in May. Power generation, an important indicator measuring industrial activities, expanded 4.8 percent in July. Peng expected the country's economic growth to rise above 8 percent in the third quarter this year and 10 percent in the fourth quarter. POLICY STANCE UNCHANGED Despite these positive changes in China's economy, uncertainties still existed in world economic development and some domestic companies and industries faced difficulties, said Song Li, deputy chief of the Academy of Macroeconomic Research under the NDRC. As a result, the macro-economic policy orientation should remain unchanged, Song said. China's economy grew only 7.1 percent in the first half this year. This compared with double-digit annual growth during the 2003-2007 period and also the first two quarters last year. The government set an annual target of 8 percent for this year's economic growth, which was said essential for expanding employment. China unveiled a four-trillion-yuan (584.8 billion U.S. dollars) stimulus package and adopted proactive fiscal policy and moderately loose monetary policy to expand domestic demand, hoping increases in investment and consumption would make up for losses from ailing exports. To stimulate economy, lenders pumped 7.73 trillion yuan of new loans into the economy in the first seven months, the People's Bank of China, the central bank, said Tuesday. The surge in credit, however, sparked concerns over possible inflation and speculation about a shift in the country's monetary policy. Economists dispelled such concerns, saying consumer prices were still falling and the growth in new bank loans eased in July. The consumer price index (CPI), a main gauge of inflation, dipped 1.8 percent in July from a year earlier. The producer price index (PPI), which measures inflation at the wholesale level, fell 8.2 percent year on year last month. New lending in July cooled to 355.9 billion yuan, less than a quarter of the June total of more than 1.5 trillion yuan. Premier Wen Jiabao reaffirmed during the weekend that China would unwaveringly adhere to its proactive fiscal and moderate monetary policies in face of economic difficulties and challenges, like ailing exports and industrial overcapacity. Wen's stance echoed Zhu Zhixin, vice minister in charge of the NDRC, who underscored on Friday that there would be no change in China's macro-economic policy as the overseas market was still severe. He warned that any change in the macro-economic policy would disturb the recovery or rebound momentum, or even perish the previous efforts and achievements. "Efforts to keep a stable and fast economic development is the top priority of the country in the second half," he said.
DAMASCUS, July 30 (Xinhua) -- Syrian Foreign Minister Walid al-Moallem said Thursday that Syria is willing to enhance cooperation with China on the basis of mutual benefits. Moallem made the pledge during a meeting with Wu Sike, China's Special Envoy to the Middle East, and both sides discussed bilateral relations and the latest situation in the Middle East region. Wu reiterated that China supports Syria's commitment to achieving a just and comprehensive peace based on the relevant UN resolutions. Visiting China's speicial envoy on Middle East affairs Wu Sike (L) meets with Syrian Foreign Minister Walid Mualem in Damascus, capital of Syria, July 30, 2009 "The meeting with Minister al-Moallem focused on bilateral relations and the changes and developments in the region, where both sides expressed mutual support for the efforts in this regard to find a solution for the Middle East problem," Wu told reporters following the meeting. "I expressed gratitude to Syria, the government and people, for its support to China in a number of issues concerning China's sovereignty and territory integrity," the senior Chinese diplomat said. "We have distinguished relations with Syria and we are proud of these relations. However, we need to make efforts to develop bilateral relations further through political, economic and cultural cooperation and coordination in the international arenas," Wu added. Wu Sike arrived in Damascus on Thursday. As the special representative of the Chinese Foreign Minister, he had visited Algeria and Qatar before reaching Syria.
KABUL, Aug. 9 (Xinhua) -- A China-bound Afghan plane with Kam Airlines landed on the airport of Kandahar city in southern Afghanistan Sunday night, said sources of Kabul International Airport. An official in Kabul International Airport who was reluctant to disclose his name said the plane scheduled from Kabul, the capital city of Afghanistan, to Urumqi of northwest China's Xinjiang Uygur Autonomous Region has already landed on Kandahar airport. "The plane would return to Kabul after two hours," he added. Armored vehicles withdraw from the Urumqi airport, northwest China's Xinjiang Uygur Autonomous Region, early August 10, 2009, after the airport was restored to order. An Afghanistan plane scheduled from Kabul to China's Urumqi was reportedly bomb threatened Sunday, triggering an emergency response at the airport. The plane finally landed on the airport of Kandahar city in southern Afghanistan after China's aviation department denied its landing in UrumqiThe airport official said the plane made the unexpected landing due to some "mechanical problem". Meantime, president of Kam Airlines, Zamarai Kamgar, told Xinhua that it is the first flight day for Kam from Kabul to Urumqi and the plane was refused by Kyrgyzstan to pass its territory. The Boeing-767 plane was carrying more than 200 passengers, including five Chinese. "The plane chose to land in Kandahar city at first step because weather condition in Kabul was not suitable at that time," Kamgar added. Passengers walk in the Urumqi airport, northwest China's Xinjiang Uygur Autonomous Region, early August 10, 2009, after the airport was restored to order. An Afghanistan plane scheduled from Kabul to China's Urumqi was reportedly bomb threatened Sunday, triggering an emergency response at the airport. The plane finally landed on the airport of Kandahar city in southern Afghanistan after China's aviation department denied its landing in Urumqi "The plane has made landing efforts in Kabul airport, but failed. Maybe it is because of strong wind," a Chinese passenger named Pan Dongjie told Xinhua from Kandahar. Earlier, armed police sources in Xinjiang said the Afghan plane scheduled to Urumqi was bomb threatened. "Now all the passengers are asked to stay on board," Pan said. "I have known about the bomb threat. I want to leave the plane as soon as possible."
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