Investigation of Motive Enhance China Japan Bond Purchase

Tokyo – Japanese Finance Minister said Thursday Yoshihiko Noda, the government is monitoring closely China’s increased purchases of Japanese government debt and will check in Beijing about his motivations.”We are giving careful attention” to the recent increase in purchases related to China against the Japanese government bond (JGB), “Noda said in a session of the parliamentary committee of financial problems, reported Dow Jones Newswires.

“I do not know the true intention” regarding China’s increasing appetite for JGB.But Tokyo plans to “work together closely (with Beijing) and assesses the point,” he said.China, in July, buying Japanese bonds worth 583.1 billion yen (6.9 billion dollars), Japan’s finance ministry said Wednesday, when the Asian giant will continue to increase purchases of Japanese debt.

This figure is higher than the value of securities purchased in June, 456.7 billion yen.The news came after the yen, Wednesday, 15 highest-reaching new year against the dollar. Currency traders said the yen berdenomiasi China’s purchase of property, even by itself too small to boost the yen, it can support the increase in the currency indirectly.

For the first half of this year, China bought debt worth 1.73 trillion yen, almost seven times over a full year’s record of about 253.8 billion yen in 2005.In May alone China investors buy Japanese government bonds net worth 735.2 billion yen.China seeks to diversify its investments out of the big bucks and Europe since the beginning of the financial crisis.Most bonds are purchased by the government of China is estimated to be used to manage foreign currency reserves.

This increase is in conjunction with the re-doubt recovery in the United States and Europe, and indicates China’s store more foreign currency reserves which as a result continues to expand into the Japanese bonds are relatively stable.With approximately 95 percent is held by domestic investors, the risk did not pay the debt of Japan is considered much smaller than the countries hit by the-debt, even though its public debt approaching 200 percent of gross domestic product, the highest among developed countries.

China’s foreign exchange reserves have swelled in recent years, soaring to a record 2.454 trillion dollars at the end of June.These reserves, has become the world’s largest, grew 15.1 percent from a year ago, China’s central bank said in its website.One way Beijing is diversifying its investment through an independent wealth fund China Investment Corp., which handles about 300 billion dollars and has invested heavily in resource companies.(AFP)

U.S. military will conduct an anti-submarine warfare exercise with South Korea early next month

The U.S. military will conduct an anti-submarine warfare exercise with South Korea early next month, sending a message to the North that Washington is committed to defending its ally, the Pentagon said on Wednesday.Pentagon spokesman Bryan Whitman said the joint exercise, which is likely to annoy regional power China, would be conducted off the western coast of the Korean Peninsula and was aimed at defending against “sub-surface” attacks, particularly following the sinking of one of the south’s warships in March.

“This exercise certainly sends a clear message to North Korea that the U.S. is committed to the defense of the Republic of Korea,” Whitman told reporters. “Our commitment is unequivocal.”Asked about China’s likely negative reaction, Whitman said Beijing had no reason to view the joint series of exercises as a threat to its security.

“These exercises are intended to deter North Korea from future destabilizing attacks such as that which occurred with Cheonan,” he said, referring to the sinking of the South Korean warship earlier this year, which was blamed on Pyongyang.The North has denied involvement in the sinking of the Cheonan, which killed 46 sailors, and sees the latest string of joint exercises as a provocation by its neighbor and Washington.After Seoul competed drills near a disputed maritime border off the west coast this month, the North retaliated by firing a barrage of artillery shells in the same area.

SUCCESSION JITTERS

Relations across the divided peninsula have become more fraught following the attack on the Cheonan and there also is growing concern in Washington over the North’s increasingly unpredictable behavior.U.S. Defense Secretary Robert Gates said last week that recent provocations by the North should be seen in the context of tensions surrounding the succession of leader Kim Jong-il, who is expected to hand over power to his youngest son.

Gates said Kim’s youngest son was probably seeking to “earn his stripes” with the North Korean military and he was concerned that there were more attacks ahead.The latest military exercise, planned for early September, followed a visit by Gates and U.S. Secretary of State Hillary Clinton to Seoul last month, Whitman said.The exercise will focus on anti-submarine warfare tactics, techniques and procedures and was designed specifically to improve the readiness and proficiency of U.S. and South Korean forces against potential sub-surface attacks, he said.Whitman said the exercise was still in the planning stages and declined to provide details on which U.S. ships might be involved or the scope or length of the exercise.As the North’s only major ally, China has called the U.S. drills a threat to both its security and regional stability.After a joint U.S.-South Korea naval drill in the Sea of Japan last month, China conducted its own heavily publicized military exercises.(Reuters)

Avalanche Mud trap 500 Citizens of China, 5 Killed

China still not escape the bad weather disasters that befall their region lately. Mud landslides that occurred in Sichuan Province is reported to have killed five people and trapping 500 others.This disaster is preceded by heavy rain that lashed since Thursday, August 12th at midnight local time in Mianzhu. This region is known as an area suffering the most severe damage when an earthquake occurred in 2008 ago.

While these results break landslide mud transport and communications lines that connect the region. The government itself has sent rescue teams to evacuate the survivors was due to landslides. Similarly Xinhua reported on Friday (13/08/2010).This latest disaster to be a slap to China, after more than a thousand people were killed in the city in Gansu province Zhouqu mud when landslides swept a village last week. This disaster also occurred after heavy rains hit the area.

Secret Behind Jupiter's Giant Size

Jupiter is the largest planet in the solar system. 120 times the size of Earth. However, recent measurements by the spacecraft reveal the planet’s core at most 10 times the size of the planet we inhabit.Recent studies found that about Jupiter, the giant planet has a core of very small compared with the size. Scientists believe, so the planet Jupiter, the largest in the Milky Way Galaxy because he swallowed the other small planets, before the swell.

As disclosed in the site of science, New Scientist, the core of Jupiter thought to have greater evaporation in a collision with a planet the size 10 times the size of Earth. This study provides new insight into a process that is fierce in the early formation of our solar system.Researchers from Peking University, China has to imitate what might happen in the event that the collision. The simulation results show, rocky planets closer to Jupiter will be demolished as it hit the giant planet’s atmosphere.

Half an hour later, the planet would fall into the core of Jupiter. Heavy elements in the core as the metal will evaporate and then mixed with hydrogen and helium in the atmosphere of Jupiter. Scientists believe this may explain why the core of Jupiter is very small but extremely dense atmosphere.Douglas Lin of the University of California, said that while the smaller planet does not bump into him, Jupiter will continue to grow into a giant planet itself.

The research team said, elements in the planet Saturn may also be caused by something similar, a collision with a smaller planet.The planets in our solar system created by collisions between dwarf planets that orbit the Sun, who was also born. In the process the impact, small planets to melt and form planets is greater.

Earth and Moon are the result of a collision between two giant planets about the size of Mars and Venus.Collision process occurs in less than 24 hours, and the temperature of the earth at that time was very high, around 7000 degrees Celsius, where rock and metal can be melted.

London Euro slumped back against the U.S. dollar on Monday

London Euro slumped back against the U.S. dollar on Monday, as investors adjust positions ahead of Federal Reserve meeting, which some believe could announce new measures to boost the sluggish recovery.Dealers said the euro rose in early trading very strongly supported by the German trade figures which show Europe’s economic giant will help drive growth across the region.As the day develops, markets anticipate that the Fed could announce new stimulus steps in a meeting on Tuesday which will be positive for the dollar with the increase in U.S. economic prospects.

However, choppy trade with investors reluctant to make big commitments awaiting the Fed’s statement after the closely watched U.S. jobs report on Friday is much worse than expected.In late trading in London, the euro was at 1.3236 dollars, the highest in the early retreat of around 1.3283 dollars, down from 1.3276 dollars late Friday in New York.

Against the Japanese yen, the dollar is stronger at 85.86 yen from 85.48 yen on Friday.Michael Hewson of CMC Markets in London said the attention of everyone there at the Fed.”The results that will dominate this week’s sentiment   What will become of certain records would be a tone of language used in the statement of work, especially after the data is weaker than expected on Friday,” said Hewson.Forex.com said Jane Foley of choppy trade “as the market grappled with the possibility of facing the Federal Reserve.”,”Payrolls Friday may have been disappointing, but the market still was not sure because if the data illustrate a major slowdown in U.S. economic sukup” which will prompt the Fed to take new action, he said.

With interest rates near zero percent, analysts had suggested the Fed could mempertimbangkankebijakan based monetary stimulus, including a new pumping money directly into the system to increase the demand for credit.Earlier, Germany’s second largest exporter in the world after China, said exports in June surged 28.5 percent to 86.5 billion euros (115 billion dollars), the highest level since October 2008.

Meanwhile, imports surged 31.7 percent to reach a new record of 72.4 billion euros, meaning that the German trade partners also work well.”This has increased the possibility of Germany’s economy grew faster in the second quarter from the previous assumptions,” said Commerzbank analyst, Simon Junker.In London trading, the euro changed hands at 1.3236 dollars against 1.3276 dollars on Friday, at 113.65 yen (113.50), 0.8297 British pounds (0.8326) and 1.3851 Swiss francs (1, 3788).Dollar stood at 85.86 yen (85.48) and 1.0466 Swiss francs (1.0378). The pound was at 1.5951 dollars (1.5941).On the London Bullion Market, gold prices slid to 1203 dollars per ounce from 1207.75 dollars per ounce on Friday. (  AFP) –

Fidel Castro speaks to avoid a nuclear war

Former President Fidel Castro addressed Cuba’s parliament in his first public government act in four years Saturday, and appealed to world leaders, including President Barack Obama, to avoid a nuclear war.The return of the veteran 83-year-old Cuban revolutionary to the National Assembly, transmitted live by Cuban state television, crowned a spate of recent public appearances after a long period of seclusion due to illness.

It was his first participation in a public government meeting since 2006, when intestinal surgery forced a lengthy absence. It was bound to revive speculation he might be seeking a more active role again in communist-ruled Cuba’s leadership.In 2008, he formally handed over the presidency of the Caribbean country to his younger brother Raul Castro.

The bearded leader of Cuba’s revolution, who retains his parliament seat and the post of First Secretary of the Communist Party, dressed in long-sleeved green military fatigues, but without rank insignias, for the session.After being helped to walk in and being greeted by a standing ovation and shouts of “Viva Fidel,” he used the meeting to expound again his recent warnings that U.S. pressure against Iran could push the world to a nuclear conflagration.

In a 12-minute prepared speech delivered in a firm but sometimes halting voice, he urged world leaders to persuade Obama not to unleash a nuclear strike against Iran.Castro said such an attack could occur if Iran resisted U.S. and Israeli efforts to enforce international sanctions against it for its nuclear activities.

“Obama wouldn’t give the order if we persuade him … we’re making a contribution to this positive effort,” he told the special assembly session, which had been requested by him.He said he was sure that China and “the Soviets” — an apparent reference to Russia, the former Soviet Union — did not want a world nuclear war and would work to avoid it.

Castro also referred to the case of one of five convicted Cuban spies jailed in the United States, Gerardo Hernandez, saying he hoped his wife would be allowed to visit him or that he could even be released.President Raul Castro also attended the assembly session, wearing a long-sleeved white shirt. Deputies made observations on Castro’s speech, congratulating him and agreeing with him.

But Fidel Castro later appeared to tire after exchanging views with the deputies, and Cuban parliament head Ricardo Alarcon suggested ending the session after 1-1/2 hours.”That’s what I have to say, comrades, nothing more, I hope we can meet again at another time,” Castro said in brief closing remarks in which he asked whether the parliamentarians had obtained copies of his new book, “The Strategic Victory,” on the guerrilla war that brought him to power in 1959.The session finished with applause.

“BACK IN ACTION”

“I’ve been watching Fidel, he looks the same as ever, looks well,” said Graciela Hernandez, a 67-year-old Cuban pensioner who saw Castro on television. “He’s got better and he’s back in action. Fidel’s a real (Don) Quixote,” she said.”It’s a rebirth. It’ll give us strength to continue the struggle,” Graciela Biscet, 43, an assembly deputy from Santiago de Cuba, told reporters.Following his 2006 illness, Fidel Castro disappeared from public view and was only seen occasionally in photographs and videos. But since July 7, he has emerged from four years of seclusion and has made several public appearances.

Analysts and Cuba-watchers have given varied interpretations of what the recent spate of Fidel Castro appearances might mean.Some say the legendary comandante’s influence has remained strong on the Cuban leadership, and that this has put a brake on more liberalizing reforms of Cuba’s socialist system, or on any attempts to improve relations with the United States, which maintains a trade embargo against the island.

But others argue his appearances are intended to show support for his younger brother Raul as the latter tries to revive the stagnated economy with cautious reforms and steer Cuba out of a severe economic crisis.

Others say the veteran statesman may just want to get back into the limelight.Fidel Castro, who has also predicted a U.S. clash with North Korea, urged Obama Wednesday to avoid a nuclear war, which he had described as “now virtually inevitable.”

The former president has met Cuban diplomats, economists and intellectuals over the last month, as well as visiting the national aquarium and launching his new book.

But Fidel Castro has remained mute, at least in public, on the cautious domestic reform policies of his younger brother, which included a recent announcement that more self-employed workers would be allowed in the state-dominated economy.He has, however, kept up regular commentaries since 2007 on international affairs, published by state media. These focus especially on his favorite subjects, such as his views on the threat to humanity posed by U.S.-led capitalism and by global warming.(Reuters)

Japan marked the 65th anniversary of the atomic bombing of the United States on Hiroshima

Hiroshima Japan marked the 65th anniversary of the atomic bombing of the United States on Hiroshima, on Friday, with the United States was represented at the ceremony for the first time.Peace bell was rung at 8:15 pm local time, when atomic bombs were dropped by B-29 war plane Enola Gay on August 6, 1945, and tens of thousands of survivors are now elderly, children and the authorities do under one minute silence hot summer sun, as quoted from Reuters.

“Clearly, the urgency of the elimination of nuclear weapons will penetrate our global conscience,” Hiroshima Mayor Tadatoshi Akiba said in a speech which was followed by the release of white pigeons.Hiroshima bomb, nicknamed “Little Boy”, which issued a mixture of very fast air waves caused by aircraft, heat rays and radiation, killing thousands of people instantly.

In late 1945, the death toll has risen to around 140,000 people from roughly 350 000 residents of the city. Thousands more people died due to illness and injuries later.Three days after the Hiroshima attack, on August 9, 1945, the U.S. dropped a second atomic bomb on Nagasaki in southern Japan. Japan’s surrender six days later, ending the military aggression that has brought the country into World War II.

U.S., involved in disputes with Japan because of the relocation of a U.S. air base on the island of Okinawa in southern Japan, sent a representative to the ceremony for the first time, reflecting the encouragement of President Barack Obama on cleansing the world of nuclear weapons.”We want the nuclear disarmament and if the U.S. take the lead, other countries might follow his steps,” says Tomiko Matsumoto, people who survived the atomic bomb who is now 78 years old.

“First I hate them (United States), but the hatred (against USA) was gone. Now I want to see a peaceful world.”Obama, who received the Nobel peace prize last year in part because his vision of a nuclear free world, has signed a strategic arms treaty with Russia, April, involving former enemies in the Cold War was to reduce nuclear  with about 30 percent. “We see the new leadership of a very powerful country,” said UN Secretary General Ban Ki-mon at the ceremony. “We must maintain momentum.”

Japanese Prime Minister Naoto Kan said that Japan, the only country ever to suffer nuclear attack, will lead other countries to realize a world without nuclear weapons.Japan have adopted their own prohibitions against the possession, production and letting nuclear weapons into the country, as part of post-war constitution which loves peace. Democrats in power, the military alert to the possibility of an increase in its giant neighbor China, has planned a review of its defense at the end of this year.(AFP)

Dozens of U.S. billionaire promised to give at least half their wealth to charity

New York  – Tens of millionaire United States (U.S.) on Wednesday (4 / 8 ) promised to give at least half their wealth to charity, as part of a charity campaign two richest men, Warren Buffet and Bill Gates.Forbes magazine estimates based on the billionaire’s wealth, at least amereka can give 150 billion dollars worth of money. Among the rich people who joined the campaign for “The Giving Pledge” is a New York City Mayor Michael Bloomberg, the media magnate Barry Diller and Ted Turner, and Oracle founder Larry Ellison, director of “Star Wars” George Lucas and energy king T. Boone Pickens.

Till now 40 richest people in the U.S., including Microsoft founder Gates and investor Warren Buffet who give a commitment.Since the campaign was launched in June, Buffett, Gates and his wife Melinda have spoken to the 20 percent richest people in the U.S. – between 70 to 80 people – to take their share. “In many cases we believe they already have the interest to charity. Already there are 40 people who signed,” said Buffett.”We want to recruit as many mungkind from 40 people to contribute and so they invite others so we can make a bigger stake and start with the good.”

U.S. millionaire campaigns asked to give at least half their wealth during their lives, or after they die, and to publicize their cause with a letter explaining their decision.Gates has kekeyaan approximately 53 billion worth of dollars, which put him in second place in the world’s richest people list of Forbes magazine. Buffett’s third-richest man is, his wealth comes from insurance and investment company Berkshire Hathaway Inc. The company ranked third in the list with a fortune worth 47 billion dollars.

“The Giving Pledge” does not accept money or directing people on how menyumbang.Para billionaires are only required to make a moral commitment to give their wealth to charity.”The idea is not to tell anyone when or how to do it, but at least offer what has been learned by the other,” Buffett said.Millionaire who was involved during this average has been actively involved in charity utnuk kegitan everything from genetics and cancer research, education, gun control, library and art.

Tax Avoidance motivation was not
“I’ve always said that I like making money, and I like to give it. I do not like to inheritance. More harm than benefit,” said Pickens, whose wealth worth approximately one billion dollars.

Buffet and Gates will make some dinner this year to recruit more millionaires, and a member of “The Giving Pledge” will hold annual meetings to discuss their charitable activities. They also will meet with some of the richest people in China in September and India in March.”We expect this to be followed by other countries. If they want to follow what we consider to be a good idea and do it, we’ll be happy,” said Buffett.Forbes said the U.S. is home to 403 billionaires, the highest compared to other countries.

“I always thought that the best thing is to make the world a better place for your children and your grandchildren, instead of giving them some money. The kids you get more benefit from your charity work than your legacy,” said Bloomberg , which has a net worth of 18 billion dollars.

Buffett said there were no members of “The Giving Pledge” whose motivation is to avoid taxes.Real estate and construction billionaire Eli Broad, the capitalist John Doerr, a media entrepreneur and former leader Gerry Lensfest Cisco Systems John Morgridge joined Gates and Buffett as “The Giving Pledge” was introduced in June. As many as 34 other members announced on Wednesday.

Buffett pledged in 2006 to give 99 percent of fatherly fortune to Bill & Melinda Gates Foundation and family charities yayasana. Bill and Melinda has so far donated more than 28 billion of their wealth to their foundations. List of billionaires and their letters can be read on the site http://www.thegivingpledge.org.

Who Partake Join The Millionaires
Paul Allen (57) has a wealth of 7.8 billion poundstrling founded Microsoft. She resigned in 1983 because of fear of cancer. Since then she has helped charities.

Michael Bloomberg (68) is a financial news tycoon with a fortune of 12 billion pounds, which now serves the New York mayoralty for the third time. He once said: “The best financial planning ended with the toss check to the funeral home.”

Warren Buffett (79) is the world’s third richest man who has a wealth of 30 billion pounds through the investment company Berkshire Hathaway. He vowed to give 99 percent of the money.

Bill (54) and Melinda Gates (45). Bill is the inventor of Microsoft, and he remains the largest single shareholder with a profit of 33 billion worth of poundstrling. He founded the Bill & Melinda Gates Foundation in 2000, which has donated more than 17 billion pounds for charity.

George Lucas (66) has a personal fortune of about 1:26 billion pounds. Director of “Star Wars” it never won an Oscar and Golden Globe and she often works with Steven Spielberg.

T. Boone Pickens (82) American financial expert who heads the BP Capital Management and was worth two billion pounds.

Rockefeller David (1995) is a member of the Rockefeller family, one of the famous American family that started from the 19th century. Personal fortune valued at 2 billion pounds.

Diane von Furstenberg (63) and Barry Diller (68) between them, worth a combined wealth of more than 1 billion pounds. Diane is a designer known for “wrap dress” designs, while Barry’s famous thanks to popular shows like “The Simpson” while working at Fox television stations.

Ted Turner (71) founder of the CNN news network and has a net worth of 1.1 billion pounds. He had more land than other U.S. citizens and have the largest bison herds on the planet.

Barron Hilton (82) is one of Conrad Hilton, who started the chain of hotels with the same name, and is the grandfather of Paris Hilton. He has wealth valued at approximately 1.6 billion pounds.(AFP)

China, Heaven For The Hacker

China apparently is a ‘paradise’ for hackers. The reason is that the state has many virtual stores open marketplace or a particular traded aka malicious software malware (malicious software).As quoted from PCWorld site, according to one security expert who spoke at the Black Hat hacker conference Defcon in Texas U.S., the required tools to do the hack with a cheap price and can be customized, can be obtained easily in China.

“The hackers  in China to develop malware is almost like a commercial software product,” said Val Smith, founder of computer security firm Attack Research, quoted from PCWorld.Like commercial software, malware products they offer are equipped with serial numbers, product ads, the license agreement, up to 24-hour support service. According to Smith, the hacker community is very big in the marketplace, and a lot of malware that is also already very sophisticated.

Unlike in the U.S. where hackers traded hacking tools tacitly, in China most of the malware can be obtained easily in an open, even through a search engine Baidu.com, Consumers can have this tools at a price less than U.S. $ 20 or subscribe to become members to get updates and the supply of new tools on a regular basis. They also can choose the tools hackers what they want, ranging from data theft tool, screen capture, keystroke loggers, or other type of hacking.

The buyers can also be tested malware programs before buying. Even this malware programs can also be equipped with statistical tools capable of detecting the extent of the spread of infection caused by the program.China apparently is a ‘paradise’ for hackers. The reason is that the state has many virtual stores open marketplace or a particular traded aka malicious software malware (malicious software).

As quoted from PCWorld site, according to one security expert who spoke at the Black Hat hacker conference Defcon in Texas U.S., the required tools to do the hack with a cheap price and can be customized, can be obtained easily in China. “The hackers  in China to develop malware is almost like a commercial software product,” said Val Smith, founder of computer security firm Attack Research, quoted from PCWorld.

Like commercial software, malware products they offer are equipped with serial numbers, product ads, the license agreement, up to 24-hour support service. According to Smith, the hacker community is very big in the marketplace, and a lot of malware that is also already very sophisticated.

Unlike in the U.S. where hackers traded hacking tools tacitly, in China most of the malware can be obtained easily in an open, even through a search engine Baidu.com Consumers can have this tools at a price less than U.S. $ 20 or subscribe to become members to get updates and the supply of new tools on a regular basis. They also can choose the tools hackers what they want, ranging from data theft tool, screen capture, keystroke loggers, or other type of hacking. The buyers can also be tested malware programs before buying. Even this malware programs can also be equipped with statistical tools capable of detecting the extent of the spread of infection caused by the program.

President Barack Obama welcomed China's announcement Saturday that it will allow a more flexible exchange rate for its currency

BEIJING  President Barack Obama welcomed China’s announcement Saturday that it will allow a more flexible exchange rate for its currency, saying it would help protect the economic recovery.The announcement by China’s central bank suggested a possible break from the yuan’s two-year peg to the U.S. dollar – a source of friction between the two countries – but ruled out any large-scale appreciation.The People’s Bank of China mentioned no specific policy changes, though markets will be watched closely Monday for the announcement’s effects. Chinese officials have said all along that reforms of the yuan, also known as the renminbi, or “people’s money,” will be gradual.”It is desirable to proceed further with reform of the RMB exchange rate regime and increase the RMB exchange rate flexibility,” the central bank said in a statement posted on its website.

The announcement, timed just before President Hu Jintao’s trip to the G-20 summit in Toronto, Canada, follows warnings from Beijing earlier this week against making its currency policies a main focus of the meeting.Beijing kept the yuan frozen against the dollar to help Chinese manufacturers compete amid weak global demand. It faces pressure from the United States and other trading partners who contend the yuan is undervalued.

“China’s decision to increase the flexibility of its exchange rate is a constructive step that can help safeguard the recovery and contribute to a more balanced global economy,” Obama said in a statement.U.S. Treasury Secretary Timothy Geithner called the move an “important step.””But the test will be how far and how fast they let the currency appreciate,” he said.The European Commission also welcomed the decision, saying it would help achieve more sustainable global economic growth, reduce trade imbalances and strengthen the stability of the international financial system.

But the announcement is unlikely to satisfy critics in the U.S. Congress, who argue that an undervalued Chinese currency gives China’s exporters an unfair advantage, costing millions of American jobs.”This vague and limited statement of intentions is China’s typical response to pressure,” Sen. Charles Schumer, a New York Democrat, said in a statement. “Until there is more specific information about how quickly it will let its currency appreciate and by how much, we can have no good feeling that the Chinese will start playing by the rules.”

Signs that a global economic recovery has taken hold have prompted speculation that China would begin letting the yuan resume a gradual appreciation against the U.S. dollar that began in 2005 but was halted abruptly in 2008 as the global financial crisis took effect.Since then, the yuan’s value has remained at roughly 6.83 to $1, although it is formally pegged to a basket of currencies that includes the U.S. dollar.

“It definitely sounds significant. They’re saying they’re going to press forward,” Stephen Green, an economist at Standard Chartered Bank in Shanghai, said of Saturday’s statement.”We didn’t ever think they were going to do a big one-off, so it looks like that’s not going to happen,” he said. “We’re going to see more movement around a basically stable exchange rate until the global economy is basically healthier. The proof will be in the pudding on Monday.”

Chinese officials have warned that any adjustment to the exchange rate is not other countries’ concern.The director of the international department of the People’s Bank of China, Zhang Tao, told a news conference Friday that Chinese leaders will not discuss the yuan at the G-20 summit.

Saturday’s statement pointed to economic growth both inside and outside China as a reason for the increase in exchange rate flexibility.”The global economy is gradually recovering. The recovery and upturn of the Chinese economy has become more solid with the enhanced economic stability,” the central bank said.However, it indicated no major policy changes, adding: “The exchange rate floating bands will remain the same as previously announced in the interbank foreign exchange market.”(AP)