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BEIJING, Jan. 24 (Xinhua) -- The People's Bank of China, the country's central bank, disproved Saturday the allegations by a U.S. Treasury official that China is manipulating the exchange rates of its currency, saying the statement is untrue and misleading.     Su Ning, vice governor of the central bank, said that the allegation could sidetrack the effort to track the real cause of the financial crisis.     "President Obama -- backed by the conclusions of a broad range of economists -- believes that China is manipulating its currency," the U.S. Treasury Secretary-designate Timothy Geithner wrote to the Senate Finance Committee in documents released on Thursday.     "Also, we should avoid any excuse that might lead to the revitalization of trade protectionism. Because it will do no good to the fight against the crisis, nor will it help the healthy and stable development of the global economy," Su said.     Yi Xianrong, a researcher with the financial research center of the CASS, told Xinhua on Friday if the U.S. labeled China as a "currency manipulator," it would hurt the concerted action of fighting the global financial crisis.     It would also hamper the global efforts to shake off an economic slowdown as the Sino-U.S. economic tie had become one of the world's most important bilateral economic ties, Yi said.     According to China customs statistics, Sino-U.S. trade hit 333.74 billion U.S. dollars last year, up 10.5 percent year on year.     With a 9-percent rate, China contributed more than 20 percent of global economic growth in 2008, while the U.S. remained the world's largest economy, Yi said.     Geithner's comment was just aiming to try out the Chinese government's response, said Zuo Xiaolei, senior analyst with the Beijing-based Galaxy Securities.     Yuan appreciation and the pace of appreciation should not only be decided by trade surplus but also the status of domestic economic development, Zuo said.     "The price advantage of Chinese exports may not be a result of currency issues, but the country's lower costs of labor, resources and land," she said.     In July 2005, China abandoned a decade-old peg to the U.S. dollar and allowed its currency to appreciate by 2.1 percent. Since then, the yuan has strengthened further, rising more than 20 percent against the U.S. dollar.

BEIJING, Jan. 13 (Xinhua) -- Chinese President Hu Jintao, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, attended an art performance to entertain military veterans and ex-officers on Tuesday.     Prior to the performance, representatives of army men participating in the relief efforts against the deadly May 12 earthquake, three taikonauts who operated the Shenzhou-7 manned spacecraft went onto the stage to give Spring Festival greetings to military leaders and veterans. Hu Jintao (R front), general secretary of the Communist Party of China (CPC) Central Committee, Chinese president, and chairman of the Central Military Commission (CMC), shakes hands with old comrades and retired cadres of the army, in Beijing, capital of China, Jan. 13, 2009. Hu watched the performances along with old comrades and retired cadres of the army and extended greetings to them, wishing them all good health and a happy Spring Festival.     Artists performed dances, songs and dramas that praise the country's reform and opening-up drive in the past three decades, the current modernization of China's armed forces, and the old days when old generations of servicemen fought for the founding of New China.     Also present at the gathering were senior military officials Guo Boxiong and Xu Caihou, and military veterans including Zhang Wannian and Cao Gangchuan.

BEIJING, Dec. 11 (Xinhua) -- Railway stations across China expect to handle a record of 188 million passengers heading home to family for the Lunar New Year holidays. That's up 8 percent year-on-year, the Ministry of Railways (MOR) said here on Thursda y.     "With 150 more trains in operation, trains can carry 4.48 million travelers every day, up 180,000 compared with the same period of 2008," MOR spokesman Wang Yongping told Xinhua.     The 40-day travel period, built around the Spring Festival, lasts from Jan. 11 to Feb. 19.     Wang said railways across the country will face a great amount of pressure as the Lunar New Year, which usually arrives in February, falls on Jan. 26.     "Students and employees nationwide are heading for home for an early holiday, while migrant workers are also returning home earlier this year as many manufacturers they work for have cut or ceased production amid weak market demand," said Wang.     "When most people will be moving around at the same time, an earlier-than-usual travel rush is around corner."     Transport safety is MOR's top concern. Railway departments nationwide are examining maintenance and transport facilities to ensure a smooth operation, according to the ministry.     At the same time, MOR released an emergency mechanism on Monday in preparation for possible severe weather such as snow storms and fog.     Hundreds of thousands of passengers were stranded at railway stations in southern China before this year's Spring Festival as blizzards paralyzed transportation.

BEIJING, Jan. 25 (Xinhua) -- In December 2008, China's light industry enjoyed an output growth of 8.1 percent year-on-year, which sharply outpaced the 4.7 percent growth of heavy industry.     The latest statistics from the National Bureau of Statistics show that the output of state-owned enterprises suffered a decline. In December, state-owned and state-controlled enterprises witnessed an output drop of 0.6 percent, while that of private enterprises went up 16.3 percent, overseas-funded enterprises was up 0.3 percent.     According to the statistics, in December the country produced 219.9 million tonnes of coal, down 1.3 percent year-on-year; the output of crude oil was 15.7 million tonnes, up 0.4 percent; crude steel fell 10.5 percent to 37.79 million tonnes; and motor vehicles dropped 18.9 percent to 685,700 sets.     In December, China's industrial output grew 5.7 percent, or 0.3percentage points faster than the previous month.

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