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WASHINGTON, Feb. 4 (Xinhua) -- Major trading partners of the United States, including China, did not manipulate their currencies to gain an unfair advantage in international trade in 2010, according to a report released by the U.S Treasury Department on Friday."Based on the resumption of exchange rate flexibility last June and the acceleration of the pace of real bilateral appreciation over the past few months," China's behavior did not qualify under the official definition of manipulation, the Treasury said in its long-delayed semiannual report to the Congress on International Economic and Exchange Rate Policies.With respect to exchange rate policies, ten economies were reviewed in this report, accounting for nearly three-fourths of U. S. trade. Many of the economies have fully flexible exchange rates. A few have more tightly managed exchanges rates, with varying degrees of management."No major trading partners of the United States" met the standards identified by the Congress as currency manipulator, concluded the report.Since the June 19, 2010 announcement by China's central bank of greater exchange rate flexibility, its currency, also known as renminbi (RMB) has appreciated 3.7 percent against the dollar, or about 6 percent annualized. The renminbi has appreciated 26 percent in total against the dollar since 2005.The Treasury said that because inflation in China is significantly higher than it is in the U.S., the RMB has been appreciating more rapidly against the dollar on a real, inflation- adjusted basis, at a rate which if sustained would amount to more than 10 percent per year.The U.S. accuses Beijing of keeping its currency undervalued, flooding the country with cheap exports and costing U.S. jobs. But many economists believe that the appreciation of RMB will help little to the U.S. employment."Treasury today again made the right call on China's currency policy in its latest exchange rate report," John Frisbie, President of the U.S.-China Business Council (USCBC) said in a statement after the U.S. Treasury Department'report."While USCBC believes that China should allow its exchange rate to better reflect market forces, designating China as a ' manipulator' would achieve nothing. USCBC continues to support the Obama administration's approach of combined multilateral and bilateral engagement with China as the most effective way to make progress on the exchange rate issue."

BEIJING, Jan. 20 (Xinhua) -- China's Ministry of Land and Resources announced Thursday illegal buildings totaling 14.31 million square meters in floor space were demolished in an effort to crackdown on illegal use of land by local governments and enterprises.In the crackdown, the ministry also took control of buildings totaling 34.15 million square meters in floor space, and retrieved 43,000 mu of land, 37 percent of which is farm land, said Li Jianqin, an official from the ministry who is charge of enforcing laws and regulations on land use.Li said violations of land-use laws and regulations were widespread, especially those by local governments.According to him, a total of 2,582 people involved in such violations were handed over to judicial and disciplinary authorities in 2010, with 239 people prosecuted for criminal offenses.

BEIJING, May 16 (Xinhua) -- An initial ruling by China's Ministry of Commerce said Monday that European Union (EU) members have subsidized potato starch exports to China, hurting the interests of China's domestic industries.China will impose an anti-subsidy provision of the tariff on potato starch products effective from May 19, the ministry said in a statement on its website. The rate will range between 7.7 percent and 11.19 percent, depending on the subsidy margin, according to the statement.The initial ruling accused several EU companies, including France's Roquette Freres and Netherland's AVEBE, of receiving subsidies.China launched an anti-subsidy investigation into potato starch imports from the EU on August 30, 2010 at the request of the China Starch Industry Association. This was China's first-ever anti-subsidy probe into imports from the EU.China had earlier decided to impose anti-dumping tariffs ranging from 12.6 percent to 56.7 percent on EU potato starch products. The new tariffs were effective from April 19.

BEIJING, March 5 (Xinhua) -- China's retailers will offer refund to recent buyers of iPad 1 as price dropped with the debut of iPad 2.Apple released the upgraded version of the tablet on March 3 and announced to lower the price tags of the first generation iPad 1 by up to 27.6 percent. Buyers of iPad 1 within the last two weeks are eligible for a price difference compensation, according to Apple.Chinese customers who bought the product via Apple China online or its chain stores will also be compensated, according to a statement on Apple's website.Chinese electronics retailers such as Suning and Gome responded quickly to the price cut, promising to pay back their customers with a refund.Suning, China's biggest electronics retailer by market value, said iPad 1 buyers who bought the product from Feb 17 to March 2 can get the refund with the receipt starting Saturday.Gome, the second largest electronics retailer in China, also announced to pay back their customers who bought the product from Feb 18 to March 3 from their stores. Customers could apply for the refund with the receipt starting Sunday.