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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.

You can think of NASA's Discovery program as a sort of outer-space American Idol: every few years the agency invites scientists to propose unmanned planetary missions. The projects have to address some sort of fundamental science question, and (this is the tough part) they have to be relatively cheap to pull off — say, half a billion dollars or so. Then the proposals go through a grueling competition before judges who aren't as nasty as Simon Cowell but who are every bit as tough. The one left standing at the end gets the equivalent of a recording contract: NASA supplies the funding and the launch vehicle, and away the winner goes — to orbit Mercury, as the Messenger spacecraft is doing right now; or to rendezvous with a couple of asteroids, as the Dawn mission will start doing this July; or to smash into a comet on purpose, a feat achieved by Deep Impact in 2005, a mission not to be confused with the movie of the same name. Now it's time for the next contenders. NASA has just announced that the first round of the latest Discovery competition is over, with three entries out of 28 moving on to the finals. They are, in increasing distance from Earth: the Geophysical Monitoring Station (GEMS) lander, which would use seismometers to study the interior of Mars; the Comet Hopper, which would do just that, leaping from place to place across the surface of Comet 46P/Wirtanen to see how different parts of the tumbling body react to heating by the sun; and the Titan Mare Explorer (TiME), which would plop into a sea of liquid hydrocarbons on Saturn's moon Titan — the first oceangoing vessel ever to set sail on another world. If you had to come up with a theme that ties all three missions together, it would be "origins." The Titan explorer, for example, will be studying a place that — in a crude way, at least — resembles the early planet Earth at a time when life arose here. Titan, with a thick atmosphere and a bizarro-world form of weather featuring toxic winds and hydrocarbon rain, is home to a mix of complex chemistry, complete with organic molecules. The oceans provide a medium in which the molecules can move around and interact with each other. It's even conceivable, though clearly a long shot, that some form of microscopic life already exists on this frigid moon. The Mars lander, by contrast, would visit a place where the seas — plain water in this case — vanished long ago. But the mission of GEMS goes far deeper than that. By analyzing Marsquakes on the Red Planet, GEMS will try to get a handle on what the interior of Mars is like. Scientists don't currently know whether the planet's core is liquid, like Earth's, or solid, or some mushy consistency in between. It all depends on how efficiently Mars has cooled since it formed 4.5 billion years ago, and that depends in turn on the planet's internal structure. "That's the mission," says Bruce Banerdt, of NASA's Jet Propulsion Laboratory, the lead scientist for GEMS. "We want to understand how Mars was built." Along with sensitive seismographic equipment, GEMS will drill down about 20 ft. (6 m) with a thermometer-equipped probe, trying to figure out how quickly the temperature rises with depth. "That will let us extrapolate all the way down to the center," Banerdt says, "which will tell us how fast Mars is cooling."

BEIJING, Jan. 22 (Xinhua) -- Beijing is ready to kick off its first ever car license plates lottery, to be broadcast live both on TV and over the Internet on Jan. 26, said officials with the allotment office Saturday.A total of 17,600 car license plates will be allocated to qualified individual applicants through the lottery, in keeping with the principles of openness, fairness and equity, according to the office.Validation for the first batch of 210,178 individual applicants has been completed, and the office will make public the results, as well as lottery time and rules, on Tuesday.Applicants can check out the validation information at bjhjyd.gov.cn.The first group of car license plates for institution and company applicants will also be allocated through the lottery on the same day.The Beijing municipal government put in place the lottery mechanism at the end of last year in an effort to curb the capital city's fast growth of automobiles, which resulted in worsening traffic jams.The new mechanism seeks to reduce new car registrations by allowing only 240,000 in 2011, or about one-third of new cars registered in 2010.Data from the Beijing Municipal Commission of Transport (BMCT) shows there were only 78,000 cars in Beijing in 1978 and 200,000 in 1985.However, the number of cars soared after the country entered the 21st century amid fast economic growth and urbanization.Within 13 years, the number of cars in Beijing more than quadrupled to 4.76 million in 2010 from 1 million in 1997, according to the BMCT.

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, Jan. 26 (Xinhua) -- China's civil affairs ministers visited survivors of last year's 7.1-magnitude Yushu earthquake and Zhouqu mudslide prior to China's lunar new year.Dou Yupei, vice minister of Civil Affairs, led a team to Yushu in northwest China's Qinghai Province to visit quake survivors and local cadres beginning on Sunday.Dou told Xinhua that quake survivors in Yushu now had access to food, clothing, safe drinking water, shelters and medical services, and the reconstruction of quake-damaged houses was well underway.Further, the ministry has distributed 45,000 cotton-padded tents to Yushu to house survivors during the extremely cold winter on the Qinghai-Tibet plateau.So far, 160,000 tents have been set up to assure that all survivors have a roof overhead, according to the ministry's statement issued Wednesday.Yushu was jolted by a 7.1-magnitude earthquake on April 14, leaving 2,200 people dead and 220,000 local residents affected.Another vice minister, Sun Shaocheng, visited survivors from a massive mudslide that left 1,700 people dead or missing in Zhouqu, Gansu province.To provide warm shelters to survivors, the Zhouqu county government invested three million yuan (455,000 U.S. Dollars) in renovating vacant school buildings or installing facilities in newly-built apartments.All survivors who previously had taken shelter in make-shift tents were relocated to these buildings before Oct. 13, according to the ministry's statement.