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BEIJING, Jan. 27 (Xinhua) -- China's foreign exchange watchdog said Thursday that the surplus of Chinese banks' foreign exchange purchases to sales in client transactions increased 51 percent through 2010 to stand at 397.7 billion U.S. dollars at year-end.China' s institutional and individual clients sold 1.33 trillion U.S. dollars in foreign exchange to banks in 2010 while purchasing 932.7 billion U.S. dollars, said the State Administration of Foreign Exchange (SAFE) in an online statement.In 2009, the annual surplus fell 42 percent to 263.5 billion U.S. dollars, according to SAFE's data released in March 2010.The statement noted the figures did not include banks' own forex transactions and interbank transactions.The forex surplus in December 2010 totaled 51.5 billion U.S. dollars, as clients sold 146.2 billion U.S. dollars of foreign exchange, up 13 percent from November, while purchasing 94.7 billion U.S. dollars, up 12 percent, it said.Chinese banks received 1.89 trillion U.S. dollars for their clients in overseas business in 2010 and paid 1.59 trillion U.S. dollars to overseas business, it added.The SAFE only began releasing monthly and quarterly data on bank foreign exchange transactions in 2010.

SAN FRANCISCO, April 28 (Xinhua) -- Cisco Systems Inc., world's largest maker of computer-networking equipment, on Thursday brought up an early retirement offer to its employees in the United States and Canada, in a move to cut costs and restructure the company.The voluntary plan applies to employees who are at least 50 years old and have a combined age and years of service at Cisco for at least 60 as of July 8, the company said in a memo sent to employees."Cisco employs a variety of different methods to control costs and align investment dollars, and offering this voluntary early retirement program to those eligible employees in the U.S. and Canada is part of our ongoing commitment to responsible business management," the company said in a statement.Cisco gave no details on the costs it would save and the number of employees eligible for the plan.Earlier this month, Cisco CEO John Chambers warned that "tough decisions" would be made to preserve profitability as government budget pressure has been costing the company orders and slowing its sales growth.On April 12, Cisco announced to shut down its Flip Video camcorder business to restructure its business and support its key priorities.

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.

LOS ANGELES, April 10 (Xinhua) -- Drinking green tea and practicing Taichi may promote bone health of postmenopausal women and reduce the risk of inflammation, a new study suggests.The study, conducted by researchers at the Laura W. Bush Institute for Women's Health at the Texas Tech University Health Sciences Center, focused on postmenopausal women and investigated the potential for green tea to work synergistically with Taichi in enhancing bone strength of postmenopausal women.Originating as a martial art in China, Taichi is a mind-body exercise that utilizes slow, gentle movements to build strength and flexibility, as well as deep breathing and relaxation, to move qi, or vital energy, throughout the body.The study findings were published Sunday at EurekAlert.org, the website of the American Association for the Advancement of Science (AAAS).Carried out as a double-blind, placebo-controlled, intervention trial (the "holy grail" of scientific studies), this experiment involved 171 postmenopausal women with the average age of 57 who had weak bones but not full-fledged osteoporosis. Subjects were divided into 4 groups -- placebo: starch pill (placebo) and no Taichi; GTP or green tea polyphenols (500 mg/day) and no Taichi; Placebo plus Taichi (starch pill and practising Taichi three times a week); and GTP plus Taichi.The study lasted for 6 months, during which blood and urine samples were collected and muscle strength assessed.The results show that consumption of GTP (at a level equivalent to about four-six cups of steeped green tea daily) and participation in Taichi independently enhanced markers of bone health by three and six months, respectively. A similar effect was found for muscle strength at the 6-month time point. Participants taking Taichi classes also reported significant beneficial effects in quality of life in terms of improving their emotional and mental health.Perhaps most remarkable, however, was the substantial effect that both GTP and Taichi had on biological markers of oxidative stress. Because oxidative stress is a main precursor to inflammation, this finding suggests that green tea and Taichi may help reduce the underlying etiology of not only osteoporosis, but other inflammatory diseases as well.In the study, the researchers developed an animal model (the ovariectomized, middle-aged female rat), with which they could effectively study the effects of green tea consumption on protection against breakdown of the bone's microarchitecture, according to the AAAS.In humans, this can lead to osteoporosis, a condition common to older women. The researchers say what they have learned from the animal models might also be applicable to postmenopausal women.There is a "favorable effect of modest green tea consumption on bone remodeling in this pre-osteoporotic population," said lead researcher Dr. Chwan-Li (Leslie) Shen, an associate professor at the institute.The researchers plan to soon complete a more long-term study utilizing more technically savvy measures of bone density, according to the AAAS.