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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."

LOS ANGELES, May 12 (Xinhua) -- A subsurface ocean of molten or partially molten magma exists beneath the surface of Jupiter's volcanic moon Io, the Jet Propulsion Laboratory (JPL) said on Thursday."The finding heralds the first direct confirmation of this kind of magma layer at Io and explains why the moon is the most volcanic object known in the solar system," JPL said in a press release posted on its website.The finding was based on new data analysis from NASA's Galileo spacecraft, said JPL.The research was conducted by scientists at the University of California, Los Angeles; the University of California, Santa Cruz;, and the University of Michigan, Ann Arbor. The study is published this week in the journal Science, JPL said."Scientists are excited we finally understand where Io's magma is coming from and have an explanation for some of the mysterious signatures we saw in some of the Galileo's magnetic field data," said Krishan Khurana, lead author of the study and former co- investigator on Galileo's magnetometer team at UCLA."It turns out Io was continually giving off a 'sounding signal' in Jupiter's rotating magnetic field that matched what would be expected from molten or partially molten rocks deep beneath the surface."Io produces about 100 times more lava each year than all the volcanoes on Earth, according to data released by JPL in Pasadena, Los Angeles.While Earth's volcanoes occur in localized hotspots like the "Ring of Fire" around the Pacific Ocean, Io's volcanoes are distributed all over its surface, JPL said, adding that a global magma ocean about 30 to 50 km beneath Io's crust helps explain the moon's activity."It has been suggested that both the Earth and its moon may have had similar magma oceans billions of years ago at the time of their formation, but they have long since cooled," said Torrence Johnson, a former Galileo project scientist based at JPL, an affiliation with NASA."Io's volcanism informs us how volcanoes work and provides a window in time to styles of volcanic activity that may have occurred on the Earth and moon during their earliest history," said Johnson, who was not directly involved in the study.NASA's Voyager spacecraft discovered Io's volcanoes in 1979, making that moon the only body in the solar system other than Earth known to have active magma volcanoes. The energy for the volcanic activity comes from the squeezing and stretching of the moon by Jupiter's gravity as Io orbits the largest planet in the solar system.Galileo was launched in 1989 and began orbiting Jupiter in 1995. Unexplained signatures appeared in magnetic field data from Galileo flybys of Io in October 1999 and February 2000. After a successful mission, the spacecraft was intentionally sent into Jupiter's atmosphere in 2003.

LOS ANGELES, March 18 (Xinhua) -- The moon will move closer to Earth than it has been in more than 18 years Saturday night, space. com reported on Friday.On Saturday afternoon at 3 p.m. Eastern Daylight Time (1900 MGT) , the "supermoon", as dubbed by some observers, will arrive at its closest point to the Earth in 2011: a distance of 221,565 miles ( 356,575 kilometers) away, and only 50 minutes earlier, the moon will officially be full, the report said.At its peak, the supermoon may appear 14 percent larger and 30 percent brighter than lesser full moons (when the moon is at its farthest from Earth), weather permitting, said the report.Yet to the casual observer, it may be hard to tell the difference, according to the report.Scientists say it is a fluke of orbital mechanics that brings the moon closer to Earth.The supermoon will not cause natural disasters, such as the Japan earthquake, NASA scientists say.In December 2008, there was a near-supermoon when the moon turned full four hours away from its perigee - the point in its orbit that is closest to Earth. But this month, the full moon and perigee are just under one hour apart, promising spectacular views, depending on local conditions, the report said.

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.

BEIJING, March 22 (Xinhua) -- China's State Food and Drug Administration (SFDA) has ordered a "serious investigation" into two kinds of bath products that reportedly gave children skin diseases.The order came after recent reports accused the body wash and lotion used by bathhouse chain Tian Po Po Xi Jiu Tang, or, literally, "Grandma Tian's Bathhouse," in southwest China's Sichuan Province of having "caused severe body damages," according to a SFDA statement released Tuesday.The bathhouse chain, with a history of some 70 years, was first established in Sichuan's capital Chengdu and was listed as a part of the city's Intangible Cultural Heritage in 2009.The licensed bathhouse claimed to use bath products developed by its own Chinese herbal medicine recipes that protected children from various skin ailments and other diseases, such as eczema, colds, and constipation.However, an unknown number of children suffered pustular psoriasis, a chronic skin irritation characterize by raised bumps, after washing at the bathhouse chain and using the two products, according to reports.Sichuan's provincial food and drug administration bureau previously deemed the two products to be "fake drugs" based on an initial investigation by the local police and food and drug authorities, the statement said.The SFDA urged local food and drug supervision departments across the country to monitor and check the two products sold by the bathhouse chain within their regions, and vowed to punish any violations of laws and regulations.