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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, Feb. 3 (Xinhua) -- Chinese Foreign Ministry said here Thursday that almost all Chinese travellers stranded in Egypt had returned home by planes sent by the government.A total of 1,848 Chinese, including those from Hong Kong, Macao and Taiwan, had been flown back by Thursday afternoon, the ministry said in a statement.The Chinese government has organized eight flights from four Chinese airline companies to Egypt since Jan. 31.The last two planes, belonging to China Eastern Airlines, returned to Beijing from Egypt Thursday, bringing back a total of 431 Chinese citizens, according to the ministry.

BEIJING, Jan. 21 (Xinhua) -- Chinese Vice Premier Li Keqiang on Friday stressed the importance that local governments improve management of land and resources, as it remains vital for the stable and relatively quick development of the nation's economy.Li said China faced the difficult tasks of land and resource management as resources are becoming scarce amid the country's quickening industrialization, urbanization, and agricultural modernization.He said the nation must continue preserving arable land. To ensure grain security, China set a "red line" to guarantee its arable land never shrinks to less than 1.8 billion mu (120 million hectares).Chinese Vice Premier Li Keqiang (R) shakes hands with outstanding representatives from local departments in charge of land and resources in Beijing, capital of China, Jan. 21, 2011.Li also called on local authorities to step up efforts to protect valuable mineral resources while using resources more efficiently and in a frugal manner.At the same time, the senior Chinese official said land should be guaranteed for the nation's plan to build 10 million affordable houses for low and middle income people this year.Further, Li urged local authorities to improve work in monitoring and taking precautionary measures against geological disasters to ensure the safety of people's lives and property.
BEIJING, April 19 (Xinhuanet) -- The case in the Hollywood blockbuster "The Social Network" continues in real life.Twins Cameron and Tyler Winklevoss on Monday filed another appeal against their Harvard classmate and Facebook founder Mark Zuckerberg.The Winklevosses claim that the case needs to be reviewed by a special 11-judge panel in the latest appeal, after a three-judge panel of the 9th U.S. Circuit Court of Appeals ruled against the brothers last week.The twins initially claimed that Zuckerberg had stolen their idea for the website but agreed to drop their lawsuit in 2008 in exchange for 20 million dollars in cash and stock in the company.But later they discovered the stock was worth less than claimed at the time and sought to have the deal voided, the brothers said.
BEIJING, Feb. 11 (Xinhua) -- Chinese society will age fast in the next five years and the government must be well prepared for the demographic change, said Chinese Vice Premier Hui Liangyu here Friday.Government policies needed adjusting and the social insurance network should be improved, Hui said at a meeting of the China National Committee on Aging.Also services for senior citizens should be better developed to meet their needs, said Hui, also the committee's director.The country will also work to expand the pension system in the rural area and cover as many senior people as possible, he said.Health authorities plan to build more medical facilities for the elderly and urban planning should take the needs of senior people into consideration, he said.
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