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- China tells U.S. not to politicize currency exchange rates
China tells U.S. not to politicize currency exchange rates
China hopes the United States will respect facts and market laws, and refrain from politicizing the issue of currency exchange rates, a Foreign Ministry spokesperson said.
"China has repeatedly advised the U.S. to act according to multilateral international rules instead of unilaterally assessing other countries' currency exchange rates," spokesperson Lu Kang said at a daily press briefing.
Lu's comments came after the U.S. Treasury Department said on Tuesday that no major trading partner of the U.S., including China, met the standard of currency manipulation, though it put China, Germany, Ireland, Italy, Japan, the Republic of Korea, Malaysia, Singapore and Vietnam on its "monitoring list."
China will steadfastly deepen the market-oriented reform of its currency exchange rate, continue to improve the floating exchange rate system based on the market supply and demand and with reference to a basket of currencies, and work to keep the renminbi exchange rate basically stable, reasonable and balanced, Lu said.
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