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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.

SEOUL, April 12 (Xinhua) -- South Korea has downgraded its alert level for foot-and-mouth disease (FMD) one notch as the disease has practically come to an end, the Ministry for Food, Agriculture, Forestry and Fisheries said Tuesday.The ministry said that it lowered the alert level from "orange" to "yellow," the second-lowest status in the four-tiered alert system, as no additional burial of livestock has occurred in three weeks after the last case in Hongseong, South Chungcheong Province, on March 21.The country dropped the alert level from the highest level of " red" to "orange" on March 24.The highly contagious animal disease, first confirmed on Nov. 29, has forced the country to cull more than 3.47 million livestock, mostly pigs and cattle, resulting in losses of 3 trillion won (2.6 billion U.S. dollars).The ministry, meanwhile, said that 670 animal quarantine experts will continue to decontaminate livestock farms once every week and keep close watch to see if any animals become sick.

NAIROBI, Feb. 23 (Xinhua) -- The East Africa Community (EAC) and the Chinese government held talks on Wednesday to explore new areas of cooperation and boost trade between both sides.A statement from the EAC Secretariat said China's Ministry of Commerce Director Department of West Asian and African Affairs Chai Zhijing held discussions with Secretary General of the East African Community Juma Mwapachu on bilateral cooperation. "The Chinese delegation were at the EAC Headquarters to explore areas of cooperation specifically trade and investment opportunities in areas such as agriculture, animal-husbandry, production and processing of mineral and other natural resources, manufacturing, commerce and logistics, and tourism," the statement said.It noted that the delegation wants to know how China could support and facilitate cross-border infrastructure projects such as transport, communication and power.The Chinese and EAC officials also discussed cooperation in human resource development and training.Speaking during the meeting, Mwapachu said the visit by the director will open further the cooperation space between China and the EAC.He said the prevalence of Chinese firms in the region was very high in the construction industry and some other infrastructural developments.He noted that Chinese companies were involved in the construction of the EAC Arusha-Namanga-Athi River Road projectThe EAC secretary general said the regional economic bloc, which comprises Kenya, Uganda, Tanzania, Rwanda and Burundi, was truly looking forward to forging a lasting relationship with China.Chai said China has very good economic and cultural relations with all the five partner states of the East African Community and that all the five states were enjoying economic stability.He said EAC had a reputable framework for integration and development for the region, adding that "these form the solid basis for establishing cooperation with the People's Republic of China."The two sides agreed to come up with a concrete framework for engaging each other in the identified areas of cooperation, within one month.

BEIJING, Feb. 18 (Xinhua) -- Jia Qinglin, China's top political advisor, urged the municipality of Beijing to intensify efforts to promote the development of service and manufacturing industries.Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference, made the remarks during his inspection tour in Beijing from Wednesday to Friday.During the tour, Jia visited factories, construction sites and communities to exchange views with officials and civilians. He also listened to a report from the Beijing municipal government.Beijing has taken the lead in optimizing its industrial structure as the output of its service industry accounts for 75 percent of the revenue from all sectors, according to official sources of the city.Jia encouraged Beijing to continue to promote its service sector by focusing on producer services and expanding the city's service businesses overseas.While visiting Beijing Benz Automotive Co., Ltd., Jia called for the strengthening of technological innovation in order to boost high-end equipment manufacturing.Beijing should turn itself into a center for national technological innovation to contribute to the country's economic development, Jia said.He also stressed the better protection of forest resources and the more efficient use of water to develop modern agriculture.

BEIJING, Feb. 22 (Xinhua) -- Chinese Foreign Minster Yang Jiechi and his Austrian counterpart Michael Spindelegger held talks here on Tuesday, pledging to enhance bilateral ties through deeper cooperation.Yang hailed the remarkable development of bilateral ties since the two countries established diplomatic relations 40 years ago.He said both sides should see the 40th anniversary as a new starting point for maintaining traditional friendship, deepening political mutual trust, expanding cooperation and enhancing cultural exchanges, to strive for greater development of bilateral ties.He stressed that China appreciates the Austrian government's adherence to the one-China policy.For his part, Spindelegger said the Austrian side attaches great importance to developing ties with China and he hoped both sides will strengthen cooperation in various fields in a more pragmatic way.The two also exchanged views on some international and regional issues of common concern.