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BEIJING, Feb. 8 (Xinhua) -- As the U.S. President Barack Obama vowed to get "much tougher" with China on exchange rates and trade, economists from Beijing said China should not give in to increased U.S. pressure that stems from its domestic problems.Obama's talk of putting "constant pressure" on China to strengthen the yuan so to ensure the price of U.S. goods was not artificially inflated has drawn heated comments from economists in Beijing."His words are only aimed to appeal to domestic interest groups," said Tan Yaling, an expert at the China Institute for Financial Derivatives at Peking University.Given China's growing international clout and the lack of jobs in the United States, Obama will certainly try to make China change its currency policy as this is an easy way to weaken China's export industry, she said.It was also a relevant tactic given the President was losing ground in opinion polls and facing tough conditions leading up to the mid-term election later this year, she said.Although the U.S. economy recovered to 5.7 percent growth in the fourth quarter last year, a record high in six years, jobless rate surged to more than 10 percent.Fiscal deficit is set to hit 1.56 trillion U.S. dollars in 2010, or 10.6 percent of its GDP, a new record since the Second World War.In the State of the Union Address on Jan. 28, Obama made it clear he would focus on jobs in 2010 and pledged to double exports in five years which could create 2 million jobs in the States.Tan Yaling said Obama's export drive could not fix the job problem, while a stronger yuan would add costs for U.S. consumers.RESIST PRESSUREIt's an old trick for the U.S. to force its major trade partners to appreciate their currency to help itself in a time of crisis, said Zhang Yansheng, director of the Institute of Foreign Trade of the National Development and Reform Commission."China's reforms, including exchange rate reform, should be independent of other countries," he said.He noted China's currency policy should comply with the country's macroeconomic conditions and industry restructuring. As many exporters' sales were just starting to pick-up, a rising renminbi would hurt their fragile recovery.Many foreign experts also agreed that the appreciation of the renminbi would not remedy the global economic imbalance.A 20 percent rise in the yuan and other major Asian currencies would at best lead to a rise in U.S. exports worth 1 percent of gross domestic product, as the International Monetary Fund (IMF) estimates suggested, said Olivier Blanchard, Economic Counsellor and Director of the Research Department of IMF."I think it's very important not to bash China over the RMB. What China should do, and is actually doing, is to decrease its saving rate, thus increase domestic demand, and reorient production to satisfy this higher domestic demand," he said in an interview with Reuters on Jan. 29.The renminbi has gained around 21 percent since July 2005 when the government delinked the yuan from the U.S. dollar. However, China's trade surplus with its major trading partners did not fall accordingly."The exchange rate of renminbi is not the main reason for the Chinese-U.S. trade deficit," Foreign Ministry Spokesman Ma Zhaoxu said Thursday."We expect the United States to view bilateral trade issues rationally and to negotiate fairly. Accusation and pressure would not bring a solution," said Ma.

BEIJING, Jan. 27 (Xinhua) -- China is scheduled to issue 26 billion yuan (3.82 billion U.S. dollars) of book-entry treasury bonds from Jan. 28, the Ministry of Finance (MOF) announced Wednesday.The two-year bonds, the first batch of treasury bonds this year, will be issued on the national inter-bank bond market and securities exchange market on Jan. 28 and Jan. 29, the MOF said in a statement on its website.The bonds have a fixed annual interest rate of 2.01 percent and will be available for trading from Feb. 2. Interest will be paid annually. The principal will be paid upon maturity on Jan. 28, 2012.

BEIJING, Feb. 25 (Xinhua) -- Chinese police had cracked 210 online gambling crimes and arrested 918 suspects in the 13 days ending Feb. 20, an official with the Ministry of Public Security (MPS) said Wednesday.Gu Jian, vice director of the bureau of cyber security under the ministry, said the ministry also cracked another 122 less severe cases and punished 351 people in the same period.He did not provide further details about the cases.Eight Party departments, government ministries and financial regulatory bodies including the MPS and the People's Bank of China, jointly launched a seven-month-long nationwide campaign to curb online gambling on Feb. 8.The campaign, according to an earlier statement from the MPS, targets "major and severe cases, and would arrest domestic and foreign groups that organize online gambling and severely punish the offenders."Online gambling has seriously disturbed social and economic order, and has drawn strong complaints from the public, Gu said.

SHANGHAI, Feb. 15 (Xinhua)-- The luxury ocean liner Queen Mary 2 arrived at the Port of Shanghai Monday afternoon, making its first port call in China since its maiden voyage in 2004.The world's reputed cruise carrying about 2,500 passengers and 1,200 crew arrived at the port at 1:30 p.m., and would stay for about 10 hours before leaving for Nagasaki, Japan.Queen Mary 2 was the largest luxury liner which ever made calls at the Port of Shanghai, marking the beginning of a peak of cruise arrivals at the host city of the 2010 World Expo.Shanghai immigration officers had flown to Hong Kong, the previous destination of the cruise, to ensure that all passengers on board could go through necessary customs procedures earlier."So visitors on the ship would have enough time to have a peek of Chinese Lunar New Year's celebration in Shanghai," an immigration official said.Queen Mary 2 is one of the world's largest, longest and most expensive luxury liners, which cost two years and one billion U.S. dollars to build.The ship is 345 meters long, 72 meters high, and 41 meters wide with a cruise speed of 30 knotsThe cruise is owned by the cruise line conglomerate Carnival Corporation.

BEIJING, Feb. 8 (Xinhua) -- China's top political advisor Jia Qinglin on Monday called for religious believers' role in promoting the country's economic development and social stability.Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), made the remarks when meeting with heads of national religious groups.He urged religious groups in the country to pool the wisdom and strength of believers to explore ways of helping promote economic and social development.He also asked them to help consolidate harmonious religious relations and help religious people build up national consciousness, civic consciousness and legal consciousness to ensure social harmony and stability.During the meeting, Jia, also a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee,bid greetings to religious believers for the upcoming Lunar New Year, which falls on Feb. 14 this year.He said 2009 was an important year for the country's religious work as the Party's basic policies on religious work were well implemented and people's religious freedom was fully ensured.He said 2010 was a key year to cope with the financial crisis and it was also of great significance for the country's harmony and stability in the religious circle.

来源：资阳报