Spokesman: US demands on yuan are unfair

Foreign Ministry spokesman Qin Gang says US demands that China revalue its currency are "unfair and harmful". Speaking at a regular news briefing, he said the behavior of the US has set a bad example of trade protectionism. He added that the yuan exchange rate is not the reason for the trade imbalance, and that a "calm and rational" approach is needed to address the dispute.

Foreign Ministry spokesman Qin Gang says US demands that China revalue its  currency are "unfair and harmful".

Qin Gang, Spokesman, Ministry of Foreign Affairs, said, "China has made efforts on this issue. We hope that the US will take concrete actions to promote a balanced trade relationship between the two countries. The US should loosen restrictions on hi-tech product exports to China. This will be helpful.

On the one hand, the US keeps depreciating its currency to expand exports. On the other hand, it requires other countries to appreciate their currencies. It even sets trade barriers to reduce imports from other countries. This is unfair and harmful. It damages the Sino-US economic relationship."