BEIJING: China's Foreign Ministry on Monday, June 14 hit back at fresh calls by the United States for Beijing to let the yuan currency rise in value, saying the yuan was not to blame for the US trade deficit with China.
Foreign Ministry spokesman Qin Gang was responding to a question about recent comments by US Treasury Secretary Timothy Geithner and calls from US lawmakers to pass a bill threatening to press China over its yuan exchange rate controls.
"A huge amount of facts has demonstrated the renminbi exchange rate is not the main cause of the imbalance in Sino-US trade," Qin said in a statement on the Ministry's website (www.mfa.gov.cn).
"Do not politicise the renminbi exchange rate issue," he said. The renminbi is another name for the yuan currency. — Written by Reuters
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