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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.

TOKYO, Feb. 6 (Xinhua) -- Japanese Prime Minister Naoto Kan said Sunday that Japan is ready to reconstruct relations with China in cultural, economic, political and other areas, the Jiji Press reported."This year marks the 100th anniversary of China's Revolution of 1911, and next year will be the 40th anniversary of the normalization of Sino-Japanese relations," said Kan at the first session of the "China-issue" advisory committee, organized by the Japanese government and attended by personages from economic, cultural and academic circles."On this special occasion," Kan said, "Japan is ready to rebuild relations with China in various areas such as culture, economic and politics."According to local media reports, participants at the meeting put forward suggestions such as "China is a promising market in the economic area, and ties with China are thus of great importance" and "people-to-people exchanges need to be promoted in areas of culture, sports and arts."The committee is scheduled to submit the final advisory report to the government in mid-April.

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.

CANBERRA, May 10 (Xinhua) -- Technology may have a harmful effect on children's development and creativity, Australia's report found on Tuesday.The Pilot Pen Australia Creativity Report found that children could be depending too much on technology such as computers.Written by psychologist Kimberley O'Brien, the report suggested that students are becoming scared of handwritten tasks as there is no spelling or grammar check tool to pick up their mistakes as they go along."Children who develop this kind of dependency on computer software are less likely to write using a pen and paper given that they will feel a vulnerability to failure," the report said.It said using software that immediately tells children to correct errors like spelling and grammar could disrupts their thought patterns and stunts their ideas, and children who hand write are able to produce almost twice as many ideas as those using computer technology to write a creative story.The report studied 300 Year five and six children, and found handwritten essays were completed significantly faster and contained a higher standard of sentence structure, grammar, punctuation, cohesion, ideas development and organization than those completed using keyboards.A further study found students in Years two, four and six produced up to twice as many ideas writing on pen and paper as those on computers.O'Brien said the results were due to computers putting extra pressure on writers to edit as they go rather than get their ideas down first and edit minor mistakes later.O'Brien said children were most likely to develop their handwriting skills between the ages of eight and 10, and she urged all teachers and parents to ensure their children met community standards for legible handwriting.However, she said that computers are a good support tool, and they should not replace handwriting entirely.

SAN FRANCISCO, April 19 (Xinhua) -- YouTube announced Tuesday that the much-anticipated British royal wedding of Catherine Middleton and Prince William will be live streamed on the website' s live channel.Next Friday, the live stream will follow the wedding procession, marriage ceremony at Westminster Abbey and balcony kiss, said YouTube in its official blog. The official channel (www.youtube. com/theroyalchannel), will have live blog commentary of the event, and users can also upload video wishes for the couple on the site."This one is already heralded as the first of the Internet age, where for the first time in thousands of years of royal history, the moment will be captured on-line and preserved forever," said the blog post.YouTube, whose parent company is Google, will provide the technical support for the broadcast and the footage will be provided by the BBC.On April 8, YouTube launched live streaming service YouTube Live, including a home page where users can view live events and a live steaming platform on which partners with accounts could stream live content.