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MOSCOW Graham Glasgow Jersey , Aug. 25 (Xinhua) -- Russia's Ministry of Economic Development on Tuesday downgraded its forecast for the country's gross domestic product (GDP) this year to a 3.3 percent decrease, down from a previous estimated decline of 2.8 percent.

The economic performance of 2015 might be worse than expected, given that Western sanctions against Moscow would remain in place until 2018, the ministry said.

It also downgraded the GDP forecast for 2016 from the earlier 2.3-percent growth to a growth of 1.0 to 2.0 percent.

Meanwhile, Russian national currency, ruble A'Shawn Robinson Jersey , bounced early Tuesday after hitting the year's low against the U.S. dollar on Monday when it dived to over 70 rubles for one dollar.

The Russian Minister of Economic Development Alexei Ulyukayev, who is in the Malaysian capital city of Kuala Lumpur for the meeting of economy ministers of the Association of Southeast Asian Nations, said the average exchange rate of the ruble this year could stand at 61 rubles for one dollar if global oil price would hover over 52 dollars per barrel.

He said the current fluctuation of the ruble would cease as soon as the new balance of global oil prices is found, but "no one knows when it will happen," he added.

Wang Ruiqi

Luoluo Eddie Peng(L)and Hsu Chi Queen Stain

Chinese writer Luoluo(Zhao Jiarong), known for her young adult novels Michael Roberts Jersey , yesterday revealed in her personal weibo that she is directing the movie “Queen Stain”, which features famous Taiwan actor Eddie Peng(Peng Yuyan) and actress Hsu Chi.

Yesterday evening, Luoluo said in her weibo account with excitement that, ”I must say this out loud after having been through all the difficulties and hardships. I’ve got this opportunity as well as help from many people. I don’t care about all the hardships. I only want a good result! Come on! ”

The movie “Queen Stain” was adapted from her novel of the same name, which depicts the harsh reality that Shengnv, or leftover-women Jalen Reeves-Maybin Jersey , now face.

Later Guo Jingming, famous young adult novel writer and CEO of Shanghai’s Would Cultural Development Co., Ltd., reposted the message and encouraged the green hand, ”Director Luoluo, this time you write and direct your own movie Kenny Golladay Jersey , and have such excellent actor and actress. I’m proud of you! Now I feel excited as if I were marrying off my daughter.”

Working together with her friend Guo Jingming, Luoluo is chief editor of one of the company's magazines, as well as one of its best-selling writers. She has published several books of her own. Her royalties amounted to RMB 3,200,000 in 2012, making her one of the best-selling female authors in China.

The movie marks the second time that Hsu Chi and Eddie Peng star together Teez Tabor Jersey , with the first time being in the movie “Love” in 2012.

(Wang Ruiqi)

BEIJING, March 5 (Xinhua) -- China lowered its 2017 economic growth target on Sunday to the much-speculated "around 6.5 percent," the lowest target in a quarter of a century, in a show of its resolve to put quality over fast growth.

China will pursue even higher rates if possible, according to a government work report delivered by Premier Li Keqiang at the opening meeting of the annual session of China's top legislature.

This closely-watched target marks a 25-year low, down from last year's target range of 6.5-7 percent and actual growth of 6.7 percent.

The previous low was a 6-percent target for gross national product growth in 1992.

The expected target is in line with both economic laws and realities Jarrad Davis Jersey , Li said, adding that it will help stabilize market expectations and facilitate the country's structural adjustments.

It will also contribute to meeting the goal of building a "moderately prosperous society in all respects" by 2020.

"An important reason for stressing the need to maintain steady growth is to ensure employment and improve people's lives," Li said.

This year's target for urban job creation is over 11 million, up from a 10-million target for 2016, underlining the growing importance China attaches to employment.

"Considering our sound economic fundamentals and the capacity they bring for job creation, this target is attainable with hard work Kerryon Johnson Jersey ," the premier said.

A REASONABLE TARGET

China has set a "reasonable target" for economic growth, said Jia Kang, a national political advisor and chief economist with the China Academy of New Supply-side Economics.

China's year-on-year growth has slowed for six years in a row, falling from a growth rate of more than 10 percent in 2010.

The lower target was within general market expectations, as most analysts and institutions had forecast a similar target.

"We expect China to set its GDP growth target at about 6.5 percent for 2017, and it could grow 6.6 percent this year Frank Ragnow Jersey ," Ding Shuang, economist with Standard Chartered, had predicted previously.

J.P. Morgan China chief economist Zhu Haibin forecast in a research note earlier this month that the target range will not change from last year, but the actual growth rate will be 6.5 percent.

The International Monetary Fund (IMF) also said in a January report that China's growth will be 6.5 percent this year.

"With more and more encouraging signs for economic improvement, the economy may find the bottom near this year's target," Jia said.

China's 6.7 percent growth last year outpaced most other economies and accounted for more than 30 percent of global growth Cheap Detroit Lions Hats , according to the report.

Last year, the consumer price index rose 2 percent. Industrial profits rose 8.5 percent, reversing a drop of 2.3 percent in 2015. Energy consumption per unit of GDP fell 5 percent.

QUALITY OVER QUANTITY

"Both the quality and efficiency of economic performance improved markedly last year," the premier said.

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