Yuan Not to Blame for Trade Surplus

More than 140 members of the US Congress have threatened Beijing with duties on some of its exports if it fails to revalue its currency. The Obama administration is due to decide whether to label China a currency manipulator in mid April.

The Ministry of Commerce rejected intensified calls by US lawmakers for a stronger yuan, saying trade surplus is not caused by the foreign exchange rate.


RMB slips V.S. US$, 14-month high on euro

The yuan slipped against the dollar in the offshore forwards market for a second day on Wednesday. Meanwhile the spot yuan neared a 14-month high against the euro, as enthusiasm over the eurozone rescue plan faded.

China and US reached agreements on Yuan exchange rate

The Chinese Vice Commerce Minister says China and the U.S. have reached basic agreements to keep the yuan exchange rate and China´s foreign trade policies basically stable.

US respects China´s decision on yuan

President Hu Jintao says that China would firmly stick to reforming its currency exchange rate, based on its own economic and social development needs. He made the remarks on Monday in a meeting with U.S. President Barack Obama on the sidelines of a Nuclear Security Summit in Washington.

Snow: Let China decide on RMB

It won´t be a surprise if the Chinese government soon shifts its currency policy in the light of mounting inflationary pressure in the nation, although it is up to China itself to decide the timing of any yuan revaluation, former US Treasury Secretary John Snow said on Friday.

Don´t politicize trade disputes, says China´s former deputy trade minister

All nations should avoid politicizing trade protectionism as it will lead to eye-for-an-eye retaliation and unreasonable trade wars, China´s former deputy trade minister Long Yongtu has said.

China Stance

Hu: China does not intentionally pursue a trade surplus with US

Hu Jintao said his country does not intentionally pursue a trade surplus with the United States.

Premier: This is trade protectionism.

Premier Wen Jiabao has criticized US for its trade protectionism and wants a market economy status from the world´s biggest economy.

Spokesman: US demands on yuan are unfair

Foreign Ministry spokesman Qin Gang says US demands that China revalue its currency are "unfair and harmful".
- China rejects criticism on yuan

US Attitude

US respects China´s decision on yuan

Obama said that his country respects China´s sovereignty, concerning the yuan´s exchange rate. He said he hoped the two sides ...

The top U.S. envoy to China: Yuan solution "will be found"

The top U.S. envoy to China on Thursday expressed confidence that the two countries will find a solution to the yuan exchange rate.
- US Ambassador stresses Sino-US ties

US threatens Beijing with duties

More than 140 members of the US Congress have threatened Beijing with duties on some of its exports if it fails to revalue its currency.


Stable yuan good for global economic recovery: Vice President of CASS

Vice President of the Chinese Academy of Social Sciences Li Yang, who´s also the vice president of the China, says a stable yuan is good for Global economic recovery.

China doesn´t require further RMB appreciation: Professor Xiang

For more analysis on the yuan´s exchange rate, we are joined by Xiang Songzuo, Deputy Director of the Center for International Monetary Research at Renmin University.

Harvard professor warns of currency war

Harvard professor Niall Ferguson attending the hearing argued that if the US pushes China too hard, the two sides will be on the verge, and maybe are already, in the middle of currency wars.

Geithner: US cannot force China to change

US Treasury Secretary, Timothy Geithner made the remarks in an interview with the CNN broadcasting network on Wednesday.