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BEIJING, Feb. 14 (Xinhuanet) -- The exchange rate against the US dollar is currently at an appropriate level but could fluctuate in the future, Yi Gang, vice-governor of the central bank and head of the State Administration of Foreign Exchange, said on Sunday."In the future, as markets fluctuate and labor productivity changes, the rate will certainly show some fluctuation," he said at a seminar. Last Thursday, the yuan's central parity rate rose to a record high of 6.5849 against the US dollar, after rising for three consecutive trading days, before declining to 6.5952 on Friday.The yuan has appreciated about 3.6 percent against the dollar since mid-June. A report from the US Treasury said earlier that on an inflation-adjusted basis, the appreciation was even higher, at an annual rate of more than 10 percent.US Federal Reserve Chairman Ben Bernanke said last Wednesday that China's recent measures to control inflation by raising interest rates is "surprising" and urged Beijing to let its currency rise in value.Currently the exchange rate is still underestimated by no more than 10 percent, said Lu Mai, secretary-general of the China Development Research Foundation (CDRF).The resilience of exporters to the rising yuan is stronger than previously estimated, which helps to pave the way for more currency reform to liberalize the yuan, he said.In 2007 and 2008, the Chinese currency rose by 7 percent annually against the US dollar, but China's GDP only declined by 0.28 percentage points, with inflation down by 0.42 points and workers' wages up by 0.07 points, according to CDRF research."The figures showed that progressive currency reform since July 2005 was successful, and the government should accelerate the reform and further free the yuan in the next five years to promote healthy, long-term economic development," Lu said.China should keep the proportion of its trade surplus to GDP within 5 percent, and avoid further increasing its huge foreign exchange reserves to allow the currency to settle at a balanced level, he said.China's foreign reserves rose to a record .85 trillion at the end of last year, an 18.7 percent increase year-on-year, according to statistics from the People's Bank of China, the central bank.Yi said he took note of the CDRF findings, but emphasized that further moves depended on both the domestic and international economic situation and appropriate timing.Lu Feng, an economist at Peking University, said now is the right time to deepen currency reform and let the yuan trade at a higher price as inflation is rising.Analysts have predicted that the yuan will appreciate this year as inflation may see the government opt for a rising yuan to lower the cost of purchasing international commodities.Lian Ping, chief economist at the Bank of Communications, predicted the yuan would rise by 5 to 7 percent in 2011.

LOS ANGELES, March 16 (Xinhua) -- The death rate in the United States reached an all-time low in 2009, dropping 2.3 percent from 2008, a newly released report said.This was the 10th straight year of decline, demonstrating that Americans are living longer than ever, according to the report from the U.S. Centers for Disease Control and Prevention's National Center for Health Statistics.The nation saw a drop from 758.7 deaths per 100,000 people in 2008 to 741 per 100,000 people in 2009 when 2,436,682 deaths were reported, said the report published by HealthDay News on Wednesday.However, life expectancy for blacks remained unchanged -- 70.9 years for men and 77.4 years for women. The disparity between whites and blacks is now 4.3 years, representing a 0.2 percent increase from 2008 to 2009, the report found.The report said that deaths fell in 10 of the 15 leading causes of death -- heart disease dropped 3.7 percent, cancer fell 1.1 percent, and stroke declined 4.2 percent.Deaths from Alzheimer's disease, diabetes, chronic lower respiratory diseases and accidents all declined 4.1 percent, according to the report.Deaths from flu and pneumonia fell 4.7 percent, and deaths from septicemia, a bacterial infection, decreased 1.8 percent, the report said.Deaths from homicides fell 6.8 percent, but suicides increased from 35,933 in 2008 to 36,547 in 2009. Other than suicide, which overtook septicemia as the 10th leading cause of death, the ranking of the leading causes of death was unchanged from 2008 to 2009, the report noted.Infant mortality hit a record low in 2009, falling from 6.59 deaths per 1,000 births in 2008 to 6.42, representing a 2.6 percent decrease, according to the report.The report, however, did not give reasons for these trends.Experts think behavioral changes, particularly the decline in smoking, are partly responsible for the improvements.The report's lead author Kenneth Kochanek, a statistician at the center, said this is preliminary data, and the final data, which should be available this summer, may shed some light on the findings.
BEIJING, March 15 (Xinhuanet) -- Chris Poole, the 22-year-old founder of 4Chan.org, criticized Facebook's approach and spoke up for online anonymity at South by Southwest Interactive in Austin, Texas, according to media reports Tuesday.Poole called out early in his keynote speech at the huge Austin tech event, referencing this Zuckerberg quote from David Kirkpatrick’s book "The Facebook Effect": "Having two identities for yourself is an example of a lack of integrity.""Anonymity is authenticity; it allows you to share in a completely unfiltered way," Poole countered. "It allows you to play in ways, you might not if people knew who you are.”Losing the ability to be anonymous on the Internet is, "a kind of loss of the innocence of youth," Poole said, crediting 4chan’s culture-infiltrating creativity to anonymity. "You can’t make mistakes,“ and then leave them behind, like the olds did pre-Facebook. If your mistakes ever made it to the Internet, they’re with you wherever you go.Poole — known by the 4chan handle "moot" — was to promote his new meme-generating venture, Canvas, still in beta testing.Launched for anime enthusiasts in 2003, 4chan is one of the most popular image-sharing bulletin boards on the Internet, with most of that traffic hitting 4chan’s notorious "random" image board, the /b/ board.
WASHINGTON, May 27 (Xinhua) -- The U.S. Treasury Department said in a report released on Friday that China was not manipulating its currency."In China, since the authorities decided in June 2010 to allow the exchange rate to appreciate in response to market forces, the renminbi (RMB) has appreciated by a total of 5.1 percent against the dollar in nominal terms through the end of April 2011, or at an annual pace of approximately 6.0 percent," noted the semi- annual report on international economic and exchange rate policies.The Treasury said that as inflation in China is significantly higher than it is in the United States, the renminbi has appreciated more rapidly against the dollar on a real, inflation- adjusted basis, at a rate of around 9 percent per year.The delayed report, which was originally scheduled to be sent to the Congress on April 15, finds "no major trading partner of the United States" manipulated its currency during the period covered in the report.The Treasury added that it will continue to "closely monitor" the renminbi appreciation pace.The report also noted that the U.S. economy is recovering from its deepest recession in the post-war period."While recent growth is encouraging, the economy still faces significant challenges," said the report. The number one challenge is still in the labor market.The U.S. unemployment rate, currently at 9.0 percent, is not expected to fall significantly this year.Besides, housing market and long-term fiscal position are " unsustainable," according to the report.In recent remarks, Treasury Secretary Timothy Geithner stated that China is the fastest growing market for U.S. exports. In 2010, U.S. exports to China grew at a pace that was 50 percent higher than the rest of the world.
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