A photo of Chinese PLA navy fleet taken in April, 2018. [Photo/VCG] The Chinese military has put an end to 106,000 programs that aim to make profit by June 30, nearly achieving the goal of the three-year plan, the PLA Daily reported. The Central Military Commission said in a circular in March 2016 the military will gradually terminate all paid services in three years, and no new programs or contracts for paid services will be allowed. The circular stressed terminating all paid services was an important political task in building the armed forces, and urged units at all levels to fully implement the decision. The PLA Daily reported multiple military and government organs from the central to local level joined in the terminating work, and the country's top court and top procuratorate also provided support in the judicial field. According to the PLA report, there are still a few sensitive programs in procedures to end. A guideline was released on June 11 to further push ahead the work of ending all commercial activities before the end of this year. Contracts between the military and civilian entities that do not conclude by year's end should be terminated by that time through negotiation or legal procedures, it said, adding compensation will be provided for economic losses. In late 2015, China initiated a new round of military reforms. Ending paid services will help reduce corruption and create an enabling environment for the military to stick to its mission and improve its combat capacity. wrist band coupon code
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MACAO - Macao's broad money supply retreated in February, and resident deposits also dropped, the special administrative region's monetary watchdog said on Wednesday.The latest report issued by the Monetary Authority of Macao said that currency in circulation and demand deposits grew 6.0 percent and 0.3 percent respectively. M1 thus increased 1.5 percent from one month earlier.On an annual basis, M1 and M2 grew 11.7 percent and 12.1 percent respectively.Resident deposits dropped 0.7 percent from the preceding month to 589.9 billion patacas (about $72.96 billion) while non-resident deposits also fell 1.1 percent to 254.7 billion patacas (about $31.50 billion).Meanwhile, public sector deposits with the banking sector increased 4.7 percent to 197.4 billion patacas (about $24.44 billion).At the end of February, the loan-to-deposit ratio for the resident sector edged up from 58.6 percent at the end of January to 58.7 percent. Meanwhile, the ratio for both the resident and non-resident sectors also rose from 87.0 percent to 87.1 percent.
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