A Chinese analyst has said that China may start revaluing its yuan as early as the second half of this year because of its own needs and not due to U. S. pressure.

It was reported that the comment comes as U. S. Treasury Secretary Timothy Geithner announced Saturday his department will delay its April 15 report on whether China manipulates its currency by keeping exchange rates low, seen by some critics as giving Beijing an unfair advantage in international trade by making its exports cheaper and imports expensive.

A designation as a currency manipulator could lead to imposition of tariffs on Chinese goods and other tough measures. Chinese leaders and some finance experts have said a sharp revaluation of the yuan would adversely impact growth.

China may start revaluing its currency this year, with the move not "yielding to U. S. pressure, but seeing to China's own needs," China Daily on Monday quoted Jin Canrong, a leading U. S. studies expert at Renmin University of China, as saying.

The report said the U. S. Treasury did not indicate when it will release the report. The U. S. Business and Industry Council was quoted as saying the U. S. administration may delay the report until after the Group of 20 economic meeting in late June in Toronto.

Even as China-U. S. tensions over trade and other issues continue, China last week agreed to participate in negotiations with the other four members of the U. N. Security Council plus Germany on new sanctions over Iran's nuclear program.

It was also said by China that President Hu Jintao would attend the nuclear security summit next week in Washington.

China may appreciate its currency after the current tensions ease, perhaps in May, Lu Zhengwei, a senior economist at Industrial Bank, told China Daily.(With Inputs from Agencies)