China: Trade with US balanced and fair

0 CommentsPrint E-mail CCTV, Xinhua, March 18, 2010
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China has rejected calls from US to appreciate the yuan, saying the currency's exchange rate is not to blame for a trade surplus.
China has dismissed calls for the revaluation of its currency. Spokesman of the Ministry of Commerce Yao Jian said on Tuesday that the country's current managed floating exchange rate system is market oriented. He said the accusations over China's currency policy are groundless, as the trade between China and US is balanced and fair. Yao was responding to a letter sent by 130 US lawmakers to US President Barack Obama on Monday.


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