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XINING, Oct. 3 (Xinhua) -- China will put environmental concerns as top priority in tackling ways to exploit combustible ice, a kind of natural gas hydrate, in the permanent tundra in its northwest plateau region, said a combustible ice project leader. "We do not need to drill very deep to get the flammable frozen compound from tundra here in Muli Prefecture in Qinghai Province. However, as the sample is taken out, methane gas is easily released into the atmosphere," said Wen Huaijun, chief engineer of the combustible ice project in Qinghai. He said the project team under the China National Administration of Coal Geology is carrying out research to guarantee that the exploitation of the frozen natural gas does not cause environmental problems. Combustible ice is regarded as a potential source of alternative energy to coal and oil. One cubic meter of combustible ice can release 164 cubic meters of natural gas. The Ministry of Land Resources said on Friday that the prospective volume of the natural gas hydrate in the country's frozen earth regions is estimated to reach 35 billion tonnes of oil equivalent. China announced the first discovery of the resource under the bed of the South China Sea in May 2007. Wen said the environmental threats from the use of the resource even in a land-based region is enormous, because it releases carbon dioxide or methane into the atmosphere. "The plateau region is very sensitive to environmental changes. The biological conditions here are vulnerable," he said. Combustible ice usually exists in seabed or tundra areas (two mediums having the strong pressure and low temperature necessary to its stability). It can be lit up like solid ethanol, which is why it has the name "combustible ice." Wen said the combustible ice research project has been carried in Muli Prefecture, 4,100 meters above sea level, since 2004. "It still takes time and a huge amount of research investment to realize the dream of exploiting the resource, while ensuring the environment," he said. Wang Jianbin, deputy director of the Qinghai Bureau of Land Resources, said at the present stage, the project focus is still to ascertain locations of the deposit, and carry out a feasibility study on its exploitation.
BEIJING, July 21 (Xinhua) -- Chinese Vice Premier Li Keqiang on Tuesday called for efforts to intensify energy conservation, emission reduction and environmental protection to ensure clean, safe and sustainable development. Li made the comment at a meeting in Beijing on Tuesday, urging efforts on development of green industry and sustainable economy. He said environmental protection should be strengthened as the environmental problems in China are still severe, such as the water, air and soil pollution. Li said China's economy is still at a critical moment as it begins to recover steadily. It is also a crucial time for its economic structure adjustment, he added. He said the government should maintain sustainable and stable macroeconomic policies
BEIJING, Aug.3-- China's steel industry association said on Friday that it plans this year to unify the spot and long-contract prices for the country's iron ore imports. It will also set a ceiling for charges levied by import trading firms, as part of an effort to regulate the market. The proposal was the top item of discussion at the steel industry body's two-day semiannual meeting, said Luo Bingsheng, deputy chairman of the China Iron and Steel Association (CISA), at a press conference. The term prices negotiated with global miners should become a benchmark unified price, and the import agencies could charge 3-5 percent in commission on top of the term prices, Luo said. The move aims to regulate excess iron ore import by steel makers and trading firms, which distorted the supply and demand balance and disrupted the annual contract talks, Luo said. The price talks, which are continuing, appeared to be snagged on China's insistence upon bigger reductions than the 33 percent cut agreed to earlier with Japanese and Korean steel mills. News reports and industry analysts say China wants a 40 percent price cut. Luo said foreign iron ore suppliers promoted massive sales on the spot market, leading to huge stockpiles. Spot iron ore accounted for 82.7 percent of imports this year, leading to excessive imports that far exceed actual needs, the CISA said. Luo made the remark as the spot price of iron ore in China surged above the contract prices offered by three large miners - Rio, BHP and Vale. Benchmark spot prices of iron ore in China rose above 0 a ton on Thursday, as compared with a ton in April, according to industry consultant Mysteel. Iron ore imports rose 29.3 percent year on year, to 297 million tons, in the first half of this year, while traders imported 131 million tons, up 90.4 percent from last year. There are 152 iron ore importers in China this year, exceeding the 112 licenses that CISA issued, the association said. Luo said the annual talks were ongoing and CISA would keep working to push them forward. "We are working for a reasonable result and hope to reach a win-win situation," Luo said. "For small steel companies, a unified price system is definitely good news," said Fan Haibo, a steel analyst from Xinda Securities. "Large steel mills and trading companies have made huge profits by selling iron ore to small steel factories who do not hold import license." "But how to define which firms have 'agent license' seems essential. Giving them the privilege is akin to guaranteeing a business always makes a profit," he said.
PITTSBURGH, United States, Sept. 25 (Xinhua) -- Chinese President Hu Jintao on Friday called on world leaders to make every effort to promote global economic growth and a comprehensive, balanced and sustainable socioeconomic development. In a speech at the Group of 20 (G-20) economic summit in Pittsburgh, Hu said the world economy has seen positive signs since the two G-20 summits held in Washington in November and in London in April. "The international community's confidence has strengthened, financial markets have moved toward stability and the world economy has seen positive signs," the Chinese president said. Hu warned that the foundation of an economic recovery is not yet solid, and that many uncertainties remain. "A primary task at present," he said, "is to counter the international financial crisis and promote a healthy world economic recovery." Chinese President Hu Jintao (R5 Front) poses for photos with other participants during the Group of 20 (G20) Financial Summit in Pittsburgh of the U.S., Sept. 25, 2009Hu called for more efforts be made in the following three areas: -- First, to stand firm in commitment to stimulating economic growth: "All countries should keep up the intensity of their economic stimulus plans," he said. Both developed and developing countries should take more solid and effective measures and make a greater effort to boost consumption and expand domestic demand, he said. "Major reserve currency issuing countries should take into account and balance the implications of their monetary policies for both their own economies and the world," Hu said. Chinese President Hu Jintao (R Front) talks with Canadian Prime Minister Stephen Harper (L Front) during the Group of 20 (G20) Financial Summit in Pittsburgh of the U.S., Sept. 25, 2009-- Second, to stand firm in commitment to advancing reform of the international financial system: "We should follow through on the timetable and the roadmap agreed upon at the London summit, increase the representation and voice of developing countries and push for substantive progress in the reform," the Chinese president said. He urged world leaders to improve the existing decision-making process and mechanism in international financial institutions, and encourage more extensive and effective participation of all parties. "We should move forward the reform of the international financial supervisory and regulatory regime," Hu said. -- Third, to stand firm in commitment to promoting balanced growth of the global economy: The global economic imbalances include gaps between savings and consumption, and imports and exports in some countries. But more importantly, he said, it manifests itself in the imbalances in global wealth distribution, resource availability and consumption and the international monetary system. "The root cause, however, is the yawning development gap between the North and the South," Hu said. He called on world leaders to build up international institutions that promote balanced development. "We should scale up input in development in diverse forms ... We should value the important role of technological cooperation in promoting balanced development, reduce man-made barriers to technology transfer, and create an enabling environment for developing countries to narrow the development gap," Hu said. The Chinese leader said his country has attached great importance to comprehensive, balanced and sustainable socioeconomic growth, and has mainly relied on expanding domestic demand, in mitigating the impact of the international financial crisis. "In the first half of this year, despite the drastic contraction in overseas demand, China's GDP managed to grow by 7 percent year-on-year," he said. Hu said that China has taken an active role in international development cooperation, and has been actively engaged in international cooperation to tackle the crisis since it broke out. He said China will follow through on its assistance pledges and measures in a responsible manner, and within its capabilities offer more help to developing countries, particularly the least developed nations in Africa. "I am confident that with the concerted efforts of the entire international community, we will prevail over this international financial crisis and usher in a more prosperous future for the world economy," he said. Leaders from the Group of 20 gathered in Pittsburgh on Thursday and Friday to discuss ways to promote a recovery from the world economic and financial crisis.
BEIJING, Oct. 11 (Xinhua) -- China resolutely opposes U.S. move to start anti-dumping and anti-subsidy investigations into seamless steel pipes imported from China, the Ministry of Commerce(MOC) said. The current hardships facing the U.S. steel industry was because consumption and demand waned after the financial crisis. "Blindly blaming Chinese imports of dumping or subsidies is lack of factual bases, which China strongly opposes," MOC announced in a statement on its website Saturday. The statement came after U.S. Department of Commerce said Wednesday that it had initiated anti-dumping and countervailing duty investigations at the request of the U.S. Steel Corporation, V&M Star LP, TMK IPSCO and the United Steelworkers (USW). The U.S. petitioners requested a 98.37-percent anti-dumping duty against the Chinese imports and additional countervailing duties to offset what they allege are Chinese government subsidies. The case was the seventh such investigations this year launched by the U.S. Department of Commerce against Chinese imports that included claims of both dumping and subsidies, MOC said. Resorting to trade protectionism would not solve the real problem, instead it would hurt the interests of U.S. downstream steel businesses as well as bilateral trade, it said.